Knoxville Mayor Indya Kincannon proposed her $461.6 million net budget for the 2024-2025 fiscal year, pledging to see transformational projects through to completion. The balanced budget maintains the City’s property tax rate at $2.1556 per $100 of assessed value, the lowest since 1974.
Mayor Kincannon’s budget prioritizes enhancing public safety, addressing the housing shortage, creating jobs, and investing in public infrastructure. The State of the City Address, attended by over 350 people at the Tennessee Amphitheater at World’s Fair Park, highlighted the continuity in Knoxville’s strong and forward-thinking leadership.
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The budget includes $8 million for the Knoxville Affordable Housing Fund, with allocations for the Transforming Western redevelopment project, the Affordable Rental Development Fund, and permanent supportive housing. In partnership with the United Way of Greater Knoxville and private donors, an additional $2 million will support affordable housing programs, assisting another 200 families and individuals.
Approximately $7 million is proposed for improvements to parks and recreational facilities, while $11.7 million is earmarked for road safety investments, including $1.5 million for the Vision Zero program and $500,000 for the Neighborhood Traffic Safety Program.
The budget also includes $3 million to begin construction of a new Fire Station No. 6 in Burlington and $3.9 million for targeted pay increases for front-line police officers to keep their salaries and benefits competitive. Incentive pay for Fire Department Advanced EMTs and paramedics will also be increased.
The proposed budget supports community initiatives, with over $2.7 million for grants and service contracts promoting public safety, youth empowerment, and violence prevention. Arts and culture non-profit organizations would receive $648,500 in grants, while Community Agency Grants totaling more than $1.5 million are funded to support mental health and youth-serving programs.
Mayor Kincannon’s proposed budget will be presented to City Council for first reading on April 30, 2024, followed by a legislative budget hearing and public hearing on May 16, with the second reading scheduled for May 28.
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