NASHVILLE, Tenn. (Mike Osborne) -- Mayor John Cooper has a stark warning for Nashville residents. Get ready for a sharp increase in property taxes.
Cooper last week told WTVF-TV a tax hike of 20 percent or more is possible in the coming fiscal year.
The Mayor says the pandemic is devastating Metro’s economy. He recently predicted a $200 million to $300 million shortfall in city revenue.
Cooper noted during the interview that Nashville will get significant federal stimulus aid, but that money can’t be used for normal operating expenses. It may also be months or even years before the federal money arrives.
He also reminded residents Metro has exhausted its emergency reserves.