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An ordinance establishing the tax levy in the General Services District for the fiscal year 2025-2026, and declaring the amount required for the annual operating budget of the Urban Services District, pursuant to section 6.07 of the Metropolitan Charter.
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BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the tax levy for the General Services District of the Metropolitan Government of Nashville and Davidson County for the fiscal year 2025-2026 on each $100.00 assessed value of all property, real, tangible personal, intangible personal and mixed, within the General Services District, shall be $2.782 prorated and distributed as follows:
|
|
1. General Fund |
$ 1.389 |
per $100.00 |
|
|
2. School Fund |
$ 0.901 |
per $100.00 |
|
|
3. Debt Service Fund |
$ 0.389 |
per $100.00 |
|
|
4. School Debt Service Fund |
$ 0.103 |
per $100.00 |
|
|
Total Levy General Services District |
$ 2.782 |
per $100.00 |
Section 2. Pursuant to Section 6.07 of the Charter, BE IT HEREBY DETERMINED AND DECLARED that the annual operating budget of the Urban Services District for the fiscal year 2025-2026 requires $18,350,500 by a property tax levy therein, and the Urban Council is hereby directed to levy a tax upon all property, real, tangible personal, intangible personal and mixed, within the Urban Services District of $0.032 per $100.00 of assessed valuation, prorated and distributed as follows:
|
|
1. General Fund |
$ 0.006 |
Per $100.00 |
|
|
2. Debt Service Fund |
$ 0.026 |
Per $100.00 |
|
|
Total Levy Urban Services District |
$ 0.032 |
Per $100.00 |
Section 3. This ordinance shall take effect from and after its passage, the welfare of the Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This ordinance approves the property tax levy for FY26. Section 6.07 of the Metropolitan Charter provides that the Council’s next order of business upon adopting the annual operating budget is to adopt a tax levy that fully funds that budget. The property tax rate proposed by the Mayor is different from the FY25 property tax rate. The certified tax rate resolution, RS2025-1218, would reduce the tax based on the recent county reappraisal. This ordinance would establish the tax levy to sufficiently fund the annual operating budget.
The property tax rate proposed by this ordinance is $2.782 per $100 of assessed value in the General Services District and $0.032 per $100 of assessed value in the Urban Services District. This tax levy rate is projected to be sufficient to fully fund the Mayor’s proposed FY26 operating budget.
The tax levy is amendable on third reading. Following the adoption of the tax levy ordinance the Urban Council must meet to approve a separate resolution to approve the property tax rate as proposed for the Urban Services District.