Kingsport Leaders Have Approved A Significant Budget That Includes A Property Tax Increase For Residents. The Board Of Mayor And Aldermen Agreed To Move Forward With The City’s Proposed 110 Million Dollar 2025-26 Fiscal Year Budget. The Approved Spending Plan Includes A Proposed 33-Cent Property Tax Increase To Recover Lost Revenue And Restore Capital Funding. The City Is Proposing A New Property Tax Rate Of $1.67 Per 100 Dollars Of Assessed Value. City Manager Chris Mccart Says The Property Tax Increase Comes After The 2024 Ratio Appraisal Caused Kingsport To Lose 3.8 Million Dollars In Revenue. A Second And Final Reading Is Scheduled For June 18th.
