In a move that sets it apart from neighboring communities, the Lakeland Board of Commissioners approved the city’s 2025–26 fiscal year budget and maintained its certified property tax rate of $0.94 per $100 of assessed value during a public meeting last week.
With this decision, Lakeland becomes the only suburb in Shelby County to fund its operating budget without raising the certified tax rate following this year’s property reappraisals. The board approved the budget and tax rate by a 4-1 vote.
General fund expenditures are projected to reach $34 million, while anticipated revenues stand at $32.2 million. “I believe we’re the only one [municipality] that is being able to accomplish our budget — including two major interim financing projects — with the equalized rate,” said Mayor Josh Roman. Commissioner Connie McCarter was the lone dissenting vote on the budget and tax ratee.
Like other municipalities in the region, Lakeland worked through certified rate adjustments in May after a discrepancy between figures from the Tennessee Comptroller’s Office and the Shelby County Assessor. Despite the confusion, City Manager Michael Walker noted, “We didn’t have any pushback from either the state or the county assessor.”
Since the initial budget readings, the city has incorporated additional investments, including $600,000 for traffic signal upgrades at U.S. Highway 70 and Seed Tick Road, and nearly $1.2 million for upcoming street improvement projects.
With fiscal discipline and infrastructure planning at the forefront, Lakeland officials believe they have positioned the city as a model of growth without added tax burdens for its residents.
