MEMPHIS -- "Our cities are struggling financially. The state has a surplus. The state should help our cities keep our property taxes low." -- Senator Brian Kelsey on his new plan to help struggling cities gain more revenue. Today, at the annual Shelby County Delegation meeting, state Senator Brian Kelsey announced his new plan to help struggling cities gain more revenue. In January, Senator Kelsey plans on proposing legislation to help cities and city property tax payers...
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MEMPHIS -- "Our cities are struggling financially. The state has a surplus. The state should help our cities keep our property taxes low." -- Senator Brian Kelsey on his new plan to help struggling cities gain more revenue.
Today, at the annual Shelby County Delegation meeting, state Senator Brian Kelsey announced his new plan to help struggling cities gain more revenue. In January, Senator Kelsey plans on proposing legislation to help cities and city property tax payers.
The senator's plan involves shifting a half cent of sales tax revenue from the state to cities, a move that will generate over $500 million in new revenue for cities, with at least $50 million going to Memphis. The plan is a benefit to both the state and cities, since the money for the revenue redirection will be coming from the state's over-collection, which totaled $900 million last year. This surplus means that the money could be put to use for cities with no new state taxes and no cuts to state services.
Senator Kelsey's proposal was well received at the delegation meeting, garnering support from both Memphis Mayor Strickland and Shelby County Mayor Luttrell.