City of Kingsport anticipates tax revenues to significantly exceed initial budget estimates

The City of Kingsport anticipates tax revenues for the current fiscal year to significantly exceed what was originally budgeted. According to city finance officials, Kingsport’s property tax revenues are projected to increase by $1.1 million by the end of the fiscal year, June 30th.

At the same time, local option sales tax collections are expected to come in more than $2 million over budget estimates. Overall, Kingsport city revenues for the year are expected to be two percent, or $2.75 million, higher than initial projections.

(Image: City of Kingsport)