Property tax bills are confusing enough, but the city of Memphis has outdone itself this year with not one but two disclaimers.
In another sign of a city administration that looks disturbingly erratic and half-cocked on finances, the 2011 Memphis property tax bills include a “GF (general fund) one-time assessment” of 18 cents per $100 of assessed valuation. That goes with the “general fund” tax rate of $2.2917 and the debt service rate of 71 cents and the CIP fund rate of .0031 (translation: a couple bucks or so on your bill). Total: $3.1889.
The bottom of the bill says “Any subsequent special school tax approved by the Memphis City Council will be mailed separately,” which suggests there’s more to come.
