FY2019 BUDGET SUMMARY
FY2021 BUDGET SUMMARY
The Farragut Board of Mayor and Aldermen and Town staff are pleased to present the 2021 Fiscal Year budget. As always, the budget was developed with the philosophy that the Board of Mayor and Aldermen must continually look for opportunities to maintain and improve existing services while minimizing long-term costs. This year’s budget presented a particular challenge due to the possible impact from COVID-19 on local spending as well as the health of Farragut businesses.
The Town does not collect a municipal property tax from its citizens or businesses. In FY2020, approximately half of the Town’s revenue came from local sales tax at 50.5 percent. State sales tax was the second largest at 17 percent followed by Wholesale Drink Tax at 9 percent. The Town estimates and budgets the revenues for each fiscal year very conservatively. This is due to the primary source of revenue being local sales tax and State shared tax.
The Town of Farragut continues to redefine quality of life with a beautiful, close-knit, connected community where families and businesses thrive.
To view Farragut's FY2020-2021 budget, click here.
Roll over the above graphic to see unaudited FY2020 budget information.
The Town purchased the first 26-acre parcel for McFee Park in 1995. The first two phases of improvements included two lighted rectangular fields, a walking trail, a splash pad, an extensive playground, two large pavilions, lighted parking and two restroom/storage buildings. Today, the park is over 51 acres, and the third phase of improvements includes a new entrance drive, a great lawn, an extended walk trail, four lighted tennis courts that will also house eight pickleball courts, a restroom and a large pavilion.
Construction is expected to be completed in summer of 2021. For more information on current park and engineering projects, click here.