17.4%: Break-Even Point For Reappraisal And Tax Increase
Update by Jimmie Covington: The County Commission is moving toward increasing the certified rate by one-cent. Here is the impact of a $3.36 rate: Adopting a county tax rate one-cent above the certified...
View ArticleInvestment Budgeting With Incremental Tax Increases
From the U.S. Capital to Memphis City Hall and Shelby County Administration Building, people with higher incomes and large corporations seem to get priority. In Washington, a bipartisan coalition...
View ArticleJimmie Covington: Understanding the Reappraisal Appeals
By Jimmie Covington I finally know how much of Memphis’ certified property tax rate is designated to offset successful reappraisal appeals filed with the Shelby County Board of Equalization. This...
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EDGE’s New Chapter Calls For Business Approach
The resignation of EDGE president and CEO Reid Dulberger should be an opportunity to do more than just mount a job search for his successor. Rather, his resignation opens up a new chapter for the...
View ArticleMemphis Zoo And Overton Park Funding, Continued
The last blog post, Unequal Treatment of Overton Park, highlighted the disparate treatment by City of Memphis between Memphis Zoo and Overton Park as demonstrated in the stark difference in funding...
View ArticleData Points: Property Taxes Corporations and Developers Don’t Have To Pay
As the deadline approaches for payment of our property tax bills, these are the amounts of Shelby County taxes given away by each board to corporation and developers. Waived Shelby County Taxes...
View ArticleDavid Ciscel Told Us 20 Years Ago The Price We’d Pay For Sprawl
The last blog apost reported on how the Memphis region will spend more on higher gas prices than just nine other U.S. cities, the result of sprawl and poor public transit. University of Memphis...
View ArticleM/SCo Still Waits For More Accountable Tax Breaks
As EDGE continues to consider who its next president will be, I’m republishing my op-ed in The Commercial Appeal on February 2, 2021. The agencies granting $80 million in tax breaks a year to large...
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When EDGE Subsidizes Pricey Apartments, Developers Win And Low-Wage Renters Lose
Because little has changed since I wrote two articles in October, 2020, for MLK50.com about EDGE’s tax breaks for apartment developers, the first article is reprinted here and the second will be...
View ArticleShelby County: Picking The Best Option From A List Of Bad Ones
In searching for the money to rebuild the Regional One Health complex, Shelby County Government is faced with picking the best option from a list of bad ones. As is often the case in local government...
View ArticleNext Memphis Mayor’s Mandate for Tax Breaks Reform
As the agencies that have been delegated the power from city and county governments to give tax breaks to companies and real estate developers, there are questions that every mayoral candidate should...
View ArticleMemphis: Public Service Poor with a Math Problem
City of Memphis government is public safety and house value poor. For example, the total amount of expenditures in the city budget for police and fire totals $506 million. Meanwhile, all of the city’s...
View ArticleNew Jail Need Overshadowed By Doable Plan To Pay For It
Paint and polish can only gloss over the problems of the Shelby County Jail, which is housed in an antiquated building unfit for its present use. It was July 19, 1975, and that was the lede on the play...
View ArticleCounty Commissioners Seek Greater Accountability for PILOT Programs
It’s hard to remember all the times committees have set out and failed to analyze/reform/rationalize our local PILOT program but there is greater hope this time because a committee of the Shelby County...
View ArticlePILOT Tax Break’s Missing Piece – Equity
The most glaring problem about PILOT tax breaks is that it is a massive wealth transfer – from the people in one of the cities and counties with the highest poverty rates to the stockholders of major...
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Big Fish Landed at McKellar Lake
By John Branston Some mighty big fish have been taken from the waters in and around McKellar Lake in southwest Memphis. An angler recently landed an 80-pound catfish, but it could have been a...
View ArticleMemphis and Musk
It’s hard to remember when a major economic development announcement has generated a dichotomy of opinion as stark as the one that greeted the announcement that Elon Musk’s xAI supercomputer will be...
View ArticleOur Upside-Down Tax Systems Asks The Most Of Those With The Least
Tennessee’s tax system is farcical, and because it is, so is Memphis and Shelby County’s. But there is no humor in this farce. In truth, the Tennessee tax system should not be called a system at all,...
View ArticleCity and County Bond Ratings Are About Investors, Not Taxpayers
When Rick Masson, Robert Spence, and I negotiated the agreement to bring the Grizzlies from Vancouver to Memphis, it often felt like there was an unseen third party in the room. We would come to an...
View ArticleLegislators’ Lack of Curiosity And The Tax Burden
The lack of curiosity by local government legislative bodies is staggering. This blog’s last post pointed out the questions that never get asked because CFOs talk about bond ratings with thick...
View ArticleIt’s The Value of Taxes, Not The Amount, That Matters Most
There are many high tax cities that are among the U.S.’s most economically successful. That’s because taxes alone are not the definitive determining factor for whether the public considers taxes are...
View ArticleReport: Memphis and Shelby County Gave $344 Million In Tax Breaks In 6 Years
Only one county in the United States gave away more tax money in the form of business incentives than Shelby County – $239.2 million between 2017-2022 – and that doesn’t include $105 million in PILOTs...
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