Mayor Lee Harris Unveils $1.7B Shelby County Budget with Historic Property Tax Cut

In his final year in office, Shelby County Mayor Lee Harris has introduced a bold $1.7 billion budget proposal for fiscal year 2026, highlighted by a 66-cent property tax cut—the largest in over three decades. If approved, the cut would reduce the rate by 20%, from $3.39 to $2.73 per $1,000 of assessed value. “This would mark the lowest property tax rate in Shelby County in more than 30 years,” Harris said. To offset declining vehicle registrations, the proposal includes a modest $5 increase to the wheel tax, bringing it in line with Memphis’ rate. The budget also features employee pay raises and new investments in public schools, signaling a progressive close to Harris’ two-term tenure. The proposal now heads to the County Commission for review.