The City of Franklin has rolled out a proposed $273.4 million budget for fiscal year 2027 that keeps the property tax rate flat at 29.6 cents per $100 of assessed value while pouring new money into roads, parks, and a new downtown city hall. The spending plan represents roughly a 2.7% increase over last year and pairs a 2.5% general pay raise with targeted new hires and modest fee bumps. City Administrator Eric Stuckey presented the proposal to the Board of Mayor and Aldermen as part of the long-term Invest Franklin 2.0 plan.
What the Numbers Look Like
It is an all-funds proposal totaling $273.4 million, a 2.7% bump from the prior year, with the General Fund set at $134.2 million, up about 1.8%. According to FOX17, city officials say the plan hits debt and reserve policy targets and keeps Franklin's property tax rate among the lowest in Tennessee.
Where The Money Will Go
The proposal folds in a 10-year capital program that calls for about $458 million in investments, with more than 80% of that slated for transportation projects. As outlined by the City of Franklin, priority work includes widening Mack Hatcher Parkway, improvements to McEwen Road, development of Pearl Park, and construction of a new downtown City Hall.
Staffing And Pay
The budget includes a 2.5% general pay increase with the possibility of additional performance-based raises up to 2.5%. It also funds eight new positions, including three patrol officers and a police training sergeant, while the Fire Department would undergo a leadership reorganization. As reported by FOX17, city officials expect health insurance premiums to rise roughly 2.5% and point to about $1.7 billion in private investment over the past two years as part of the economic backdrop for the plan.
Fees, Ordinances, and Next Steps
The budget packet includes specific rate ordinances and a handful of user-fee tweaks. Trash and recycling bills would rise by about $1 per month, while stormwater fees would increase by roughly $20 per year for most households. The proposed budget and related ordinances now move to the Board of Mayor and Aldermen for review and public hearings at the end of May and through June, per the City of Franklin, with city leaders framing the plan as a way to preserve services without raising the property tax rate.
