Madison Co. leaders to vote on property tax rate

JACKSON, Tenn. — Madison County leaders are one step closer to finalizing a new budget.

“I’m feeling good about it,” budget chairman Doug Stephenson said. He says the $228 million budget was approved during its first reading earlier this month.

He says after a second reading, commissioners expect to finalize the budget.

Stephenson says the board will make a motion to update the certified tax rate.

He says the state changed the rate from $2.33 to $2.35.

“That is not a tax increase. That is the certified tax rate that is approved by the state,” Stephenson said.

Stephenson says the current budget includes the $30 million the county is borrowing for the jail expansion project.

“I am confident we are not going to have any tax increase to pursue these projects we want to do,” he said.

Stephenson says he doesn’t expect a tax increase to make up for the $6 million the county lost last year to the city of Jackson from the local option sales tax.

“In our special purpose fund, we put in 30 pennies last year,” he said. “That was the tax increase last year to be able to pay for that, so we kept that level.”

Representatives from the Jackson-Madison County Library sat in on the meeting.

They say the building is in need of a new HVAC system and roof repairs.

Stephenson says the committee will present the budget to the board Friday.

The new fiscal year starts July 1.