CLEVELAND, Tenn. – With no more borrowing power left at the current property tax rate, Bradley County commissioners are exploring ways to increase both revenue and borrowing power.
BRADLEY TAX FACTSProperty tax rate: $1.79 per $100 assessed valueFire tax for urban area outside Cleveland: 40.7 centsRural fire tax: 33.56 centsSource: Bradley County government
The County Commission’s Finance Committee on Tuesday heard county school officials say they need an additional $6.8 million for the next budget year that begins July 1.
The county also faces budget pressures for future industrial needs, committee members said. That could mean another $2 million added to the next budget.
Committee members discussed the potential for a property tax increase or creation of a wheel tax.