MEMPHIS, Tenn. (AP) -- The Memphis City Council had voted to ask city residents to raise the local option sales tax.
According to The Commercial Appeal, council members voted 8-2 Tuesday to put the issue on the November ballot. If voters adopt the increase, the city sales tax would rise to 2.75 percent from the current 2.25 percent. That would bring in an estimated $47 million annually.
If voters approve the sales tax increase, Memphis would be the first of Tennessee's four largest cities to hit the maximum local rate of 2.75 percent. It also would be one of only 20 municipalities to have a total sales tax rate that's higher than that paid in the rest of the county.
Memphis faces declining real estate values and increasing costs.
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