(Memphis) Memphis City Council members will vote on the third and final reading of the tax rate of $3.40 tonight.
But not before Councilman Harold Collins raised questions about what tax rate would be required to run the city.
Collins said he did the math and the city could run on a $3.35 tax rate.
He wanted to know where the extra $.05 which equals $5 million will be going.
Mayor A C Wharton said the money will go towards future debt payments, who said the money will satisfy the state comptroller.
“The analogy I always use, is it would’ve been like donut tire. It will get you to the next exit but it will not get you to your destination. $3.35 would’ve taken care of one year, then we would’ve been back here having the same debate on that issue,” said Wharton.
Collins said that was never clear to him.
“Here’s an opportunity for us to say the actual number is $3.35 and we know that so this is what we are going to do with the extra $.05. Maybe we could pave streets,” said Collins.
