Lincoln County leaders approve 37% property tax increase

LINCOLN CO., Tn. (WAFF) - After three rounds of back and forth, Lincoln County commissioners have finally approved the budget for fiscal year 2023-2024.

This comes after two prior attempts to raise the property taxes for homeowners.

During a special called meeting Thursday night, Commissioners approved a 78 cent per thousand dollar increase in property taxes which equates to a 37% increase over the current $2.10 tax rate in the county.

Half of the tax increase goes to the county, and the other half goes to the education fund.

This money could be used to help renovate Highland Rim and build a school behind it.

The budget was supposed to be approved on July 1, meaning the increase will go into effect immediately.

Click Here to Subscribe on YouTube: Watch the latest WAFF 48 news, sports & weather videos on our YouTube channel!

Copyright 2023 WAFF. All rights reserved.