Inflation May Force Kingsport Leaders To Raise Taxes For Next Year’s Budget
Inflation eating at your wallet? Don’t feel along. Kingsport leaders have gotten a first look at what will likely be a significant property tax increase for next years spending document. Alderman heard a report from City Manager Chris McCartt indicating strong revenue growth in Kingsport, but that revenue is being eaten away by the highest inflation in 40 years. The city is also facing a possibility of not having enough workers to fill city jobs because of a lack of competitive pay. This years budget includes a cost of living adjustment as well as an average of a four and a half percent raise for city employees.