KINGSPORT, Tn. - For the city of Kingsport to balance its 2015 budget, city leaders say property taxes have to go up.
Kingsport is facing a $2.2 million shortfall, and the Board of Mayor and Alderman voted Tuesday night to increase property taxes to balance the budget.
The BMA has been bouncing ideas around for the last month, and tonight, on the budget's first reading, the budget passed 3-to-2.
Tim Whaley, the city's community relations director, says property taxes will go up 13 cents based on assessed value.
To put that into perspective, on a $150,000 home, taxes will go up about $49 per year.
There were also talks of creating a $5 garbage fee, but that failed, so there is no fee in the budget that passed Tuesday night.
It's not a done deal yet, as Tuesday was the first reading. There will be a second reading, and Whaley expects that to be scheduled in two weeks.
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