Memphis Affordable Housing Trust Fund

By Eric Barnes, Daily MemphianUpdated: May 28, 2021 3:24 PM CT | Published: May 28, 2021 3:23 PM CT

For as long as I’ve been doing Behind the Headlines — 11 years this summer — business and economic development leaders have talked about what they see as a desperate need to reduce local property taxes. 

And a reduction of the combined city and county rates to below $7 has always been something of a holy grail for all of them. 

The recent reappraisal did just that - and with room to spare, given significant increases in property values in many areas of Shelby County. 

The newly adjusted rates of $2.71 for the city of Memphis and $3.45 for the county would — if those rates are left unchanged — mean a combined property tax rate that’s just over $6. 

But there is another perspective. A group of local community organizations and nonprofits have come forward with a proposal to not reduce the tax rates but to, instead, leave the tax rates the same and use the increased tax revenue for a range of programs and investments meant to help those most in need. 

On Behind the Headlines this week, I interviewed two people at the heart of that effort: Cardell Orrin, executive director of Stand for Children Tennessee and Deveny Perry, executive director of BLDG Memphis. 

You can watch the video here or download the full podcast of the show on the site, iTunes, Spotify or wherever you get your podcasts. 

Click here to watch the full segment of Behind the Headlines.

*This article was originally published by the Daily Memphian.