Petition created to recall Nashville's 34% property tax increase

NASHVILLE, Tenn. (WZTV) — A Nashville grassroots coalition has started a petition to recall the 34% property tax increase passed last week.

During a marathon meeting, Metro Council members passed a "crisis budget" which included the steep property tax increase.

Now, NoTax4Nash, has started a petition to give that increase a second look.

NoTax4Nash isn't the only group speaking out about the property tax increase. The Beacon Center of Tennessee says monthly rents could go up as much as 40% in Nashville to compensate for the extra cost.

“A lot of people don’t realize that it affects them even if they don’t own a home,” explains Vice President of Communications Mark Cunningham. “Basic economics show it doesn’t matter if you don’t own a home, because your next lease is going to be 10, 20, or even 40% higher.”

Only time will tell exactly how this significant tax hike will impact how we buy and sell homes in Music City, but the experts say this will give people more to consider before signing on a home in Davidson County.

Mayor Cooper called the budget approval and property tax increase a "painful but necessary" decision.

“A combination of deep cuts, a painful but necessary property tax increase, and replenished fund balance will safely see our community through to the other side of the coronavirus and the most serious budget crisis in Nashville’s history," Cooper said.

Metro Council passed a "crisis budget" that stabilizes Metro’s finances and maintains essential city services.

“A large tax increase is never easy, and it was made more painful by the sharp economic downturn brought on by COVID-19," Cooper said. "It’s something that I would not have considered were we not facing the greatest financial challenge in Nashville’s history. It is a difficult but necessary choice for our city and our residents. I am grateful for the work of the entire Council.”