Collierville Board approves tax rate increase for fiscal year 2026 budget

In the heart of Collierville, under the warm glow of city hall lights, the Board of Mayor and Aldermen convened on May 27, 2025, to address key issues impacting the community. With a quorum established, the meeting began with the approval of the agenda and minutes from previous sessions, setting a collaborative tone for the evening.

One of the most significant discussions centered around the proposed municipal tax rate for the upcoming fiscal year. As the town navigates a reappraisal year, Finance Director Ms. Wells presented a certified tax rate of $1.50, which includes a small provision for anticipated appeals. However, she emphasized that an additional 12 cents is necessary to adequately fund the town's operations, bringing the proposed rate to $1.62. This adjustment aims to ensure that the budget aligns with the town's funding priorities.

During the public comment segment, resident Charles Tollett raised concerns about the tax increase, questioning the justification for raising rates when new developments are expected to generate additional revenue. His comments highlighted a sentiment among some residents who feel that the financial implications of new growth should be considered before imposing higher taxes.

Following the public input, the board moved to approve the ordinance establishing the new tax rate, which passed with a majority vote, despite some abstentions. This decision marks a crucial step in the budget adoption process, which will continue with a public hearing on the fiscal year 2026 budget at the next meeting.

As the evening progressed, the board welcomed Collierville's Director of Schools, Dr. Russell Dyer, who presented the school budget for review. This collaborative effort between the town and the school district underscores the importance of aligning educational funding with community needs.

With the meeting drawing to a close, the board's decisions reflect a commitment to balancing fiscal responsibility with the growth and development of Collierville. As residents await the final budget approval, the discussions held during this meeting will undoubtedly shape the town's financial landscape in the coming year.