O'Connell's budget plan likely to include property tax rate hike
Why it matters: Nashville property owners haven't seen a rise in their tax rate since 2020 when city leaders passed the largest increase in Metro history during the early days of the pandemic.
Prior to that, the last tax increase in Nashville came in 2012. According to a 2023 study, Nashville has a lower effective property rate than many other major cities nationally.
State of play: City leaders have cited inflation as well as federal funding cuts under the new Trump administration as justification for the increase. Stakeholders expect the increase to be in the neighborhood of 30%.
The Metro Council must approve the rate increase, and could actually propose an even higher rate as part of its review of O'Connell's budget plan.
Between the lines: Setting the property tax rate can be a confusing bureaucratic process in budget cycles when there is also a property reappraisal, which takes place every four years.
The results of the most recent reappraisal were release earlier this month. There, Assessor of Property Vivian Wilhoite's office concluded the average property value increased 45% over the last four years.
State law prevents local governments from making more tax revenue as a result of the reappraisal process. That means Nashville's tax rate will be reduced by about 45% as part of a process called equalization.
Yes, but: Local governments are allowed to raise the rate separately from that process, and O'Connell has been clear that he intends to propose raising the rate over the equalization number. The difference between the equalization rate reduction and O'Connell's proposed new rate hike will constitute the tax increase that most property owners will pay.
The other side: A trio of conservative groups — the local chapter of Americans for Prosperity, the Nashville Tea Party and GOP-Nashville — announced a coalition to oppose the likely increase.
What we're watching: O'Connell is required to file his budget plan prior to this Thursday,May 1, when he will deliver the annual state of Metro address at the downtown library.
O'Connell won't pursue grocery sales tax change
Zoom out: O'Connell also announced at his weekly media availability last week that he will not propose a reduction in Nashville's sales tax on groceries, a move that his office had previously said it was considering.
O'Connell's office said it is not currently pursuing a reduction over concerns about the wording of the state law. According to the law, county and city governments, but not Metro-style governments, like Nashville, can reduce the sales tax on groceries.
In 2024, the Legislature, led by state Rep. William Lamberth, passed a bill into law allowing local governments to reduce their portion of the sales tax on groceries.
Hendersonville's city government took advantage of the law and reduced its tax.
The other side: Lamberth tells Axios the spirit of that proposal was to allow all local governments to reduce the tax.
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