Property owners in Soddy-Daisy may see a notable increase in their tax bills next year as city commissioners move forward with a proposed 21% hike in the property tax rate. The proposal would change the city’s property tax rate to $1.10.
Despite the percentage increase, city leaders say the real financial impact on residents may be more modest than the numbers suggest.
“On a $300,000 home, this should cost that person $150 a year,” said Commissioner Steve Everett. “So when you look at it from that perspective, that’s a little over $12 a month.”
However, not all residents are on board with the change. David Smith, who owns Wimpies Country Restaurant in Soddy-Daisy and also lives in the city, said that for him, the increase is significant.
“It’s a hard hit,” Smith said. “Particularly own