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Memphis leaders confident in options to fill $23 million budget deficit

Councilman Martavius Jones says that lower tax rate is not enough to manage costs of the city. Author: Rudy Williams Updated: 10:25 PM CDT June 9, 2021 MEMPHIS, Tenn. The Bluff City is facing a $23-million deficit and city leaders are trying to figure out how to balance the 20-22 budget. In April, Mayor Jim Strickland proposed next year s $716-million spending plan. That plan included raises for some fire and police with no proposed tax hike. In fact, because of state laws the property tax rate drops by 48-cents because properties re-appraisals were higher, but Councilman Martavius Jones says that lower tax rate is not enough to manage costs of the city.

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