Memphis Councilmen Propose Tax Increase for Pre-K

Memphis City Council members Shea Flinn and Jim Strickland will present a proposal to increase the city sales tax rate one-half percent in an effort to raise $27 million annually for Pre-K education and $20 million more to fund a city property tax reduction, the Memphis Business Journal reports. The increase would put Memphis sales tax rate at 2.75 percent, the highest rate allowed under state law. Combined with the state tax, shoppers would pay 9.75 percent on purchases.