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Oak Ridge North will hold a public hearing for its fiscal year 2026-27 tax rate Aug. 24, which will be an increase from the current rate of $0.4268 per $100 valuation, per a decision made at the Aug. 10 City Council meeting.
Breaking it down: While the staff recommendation is to set the proposed total property tax rate at $0.4615 per $100 valuation, City Manager Heather Neeley said at the meeting that if the council sets the public hearing for a rate no higher than $0.5327 per $100 valuation, they can reduce it to the recommended amount at that time. However, if it proposes a higher amount now, it cannot go any higher at the public hearing.
The tax rate is made of two portions—a maintenance and operations rate, and an interest sinking, or debt service, rate.
FY 2026-27 tax rate options per $100 valuation:
- The no-new-revenue rate: $0.2927
- Voter approval rate: $0.3962
- Recommended M&O rate: $0.3250
In addition to the M&O rate, the debt service rate in any scenario is $0.1365.
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