Shelby County Mayor Lee Harris cut a property tax increase from his budget proposal for Fiscal Year 2026.
In order to prevent local governments from getting a revenue windfall, state law mandates that local property tax rates be revised after reappraisals.
At first, Mayor Harris suggested a $2.73 property tax rate.
He suggested maintaining the $2.69 state-certified rate in the revised budget proposal released on Tuesday.
The budget cannot be implemented until it is approved by the Shelby County Commission.
Mayor Harris said, “Over the last several weeks, we have worked as hard as possible to identify additional efficiencies and opportunities to trim. Today, that effort has borne fruit, and we will be able to offer up a new proposal that puts a little bit more money in the pocket of every homeowner in Memphis and Shelby County.”
