BRENTWOOD, Tenn. (WMOT) -- Brentwood home owners will likely pay about the same amount of property tax next year, even though city leaders plan to significantly reduce the annual tax rate.
The Tennessean reports the Brentwood City Commission on Monday approved on first reading an eight cent reduction in property tax rates for the 2016-17 fiscal year.
City officials say, however, that steadily rising home values in the city mean most homeowners will pay about the same amount of effective property tax. Recent county appraisals show that home values in Brentwood are rising by about 22 percent per year.
If the City Council approves the new lower rate in late June, the average homeowner will pay about $560 in taxes on a half-million dollar home.