Red Bank commissioners voted 4-1 Tuesday to pass the city's 2025 proposed budget on the first of two required votes.
"I'm very concerned that after last year's tax increase," Commissioner Jamie Fairbanks-Harvey, who voted no, said at the meeting, "we're so behind."
Although projected revenues for 2025 are about $425,000 short of expenditures, no tax rate increase is proposed. The difference will come from the city's fund balance of about $7.4 million.
(READ MORE: Soddy-Daisy considers tax increase as other Hamilton County cities dip into reserves)
"That's healthy fund balance for our level of spend and the scale of our budget overall," City Manager Martin Granum said at the meeting.
Last year commissioners voted to raise the city's tax rate from $1.10 to $1.67 per $100 of assessed value, an increase of 52%.
The public works department has spent about $121,000 of the $1 million budgeted in 2024 for capital projects, including upgrades to sidewalks on the south end of the city to comply with the Americans with Disabilities Act and a bridge replacement on Lullwater Road, Public Works Director Greg Tate said.
Depending on the status of those projects when the fiscal year ends June 30, the actual amount in the fund balance likely will be higher than projected now in the 2025 budget.
Commissioners will take final vote on the budget at city hall at 6 p.m. June 4.
Contact Emily Crisman at ecrisman@timesfreepress.com or 423-757-6508.