MEMPHIS, Tenn. — The city of Memphis has a lot of decisions to make this week as the deadline to approve next year's budget is at the end of the month.
The one decision many homeowners are waiting for is whether the city council will grant Mayor Paul Young's request for a 75-cent increase in the property tax rate.
One Memphis city council member said if the city does not raise taxes, the city is expected to bring in $780 million in revenue. However, Young's spending plan calls for $886 million.
A Memphis city council member, Dr. Jeff Warren, told ABC24 at least some sort of tax increase is coming one way or another.
Getting the budget for the 2025 fiscal year is the top priority for the city council this week. A major problem for council members is how much can be cut from the budget before they ask taxpayers to pay more from their wallets.
Memphis resident Vivian French is hoping city leaders take a deeper look at what else can be cut before they make a final vote.
"Can you look at how to secure a reduction in some of the other expenses first before we talk about an increase?" French asked. "We have to do the same thing in our own households."
Many city council members had voiced that a tighter budget for the next year is what's best for the Bluff City.
Young said he has already asked each department head to trim 10% from their budgets.
According to Warren, the first tax increase in a long time is inevitable.
"If we don't have a tax increase, we will not be able to provide basic services this year," Warren said.
Warren said the city has already eliminated hundreds of fire, police and public works positions. He believes the needle can be moved a lot more if they raise property taxes and not city fees to help Memphis get back on its feet.
"We have to invest in the police department, invest in public works and make sure that we continue to improve the city and get us back to where we were maybe 20 or 30 years ago," he said.
It's unclear if the tax rate will increase by the full 75 cents Mayor Young is requesting. Young told ABC24 no one wants to increase taxes, but it's the only way to move the city forward.
"We have some financial challenges looming, and our city is asking for more," Young said. "Our residents want better results. It's gonna take resources to do it."
Young said he expects Monday will be a long day of deliberations. He said the hope is they can finalize things on Tuesday.