April 2025
Kincannon's Proposed Budget Prioritizes Public Safety, Affordable Housing, Quality Services, Key Investments
Touting “the power of teamwork” at the new Covenant Health Park stadium, Knoxville Mayor Indya Kincannon today proposed her $477.3 million net budget.
Her proposal prioritizes high-quality City services and public safety while strategically investing in key capital projects and tackling critical, long-standing deferred maintenance.
Kincannon’s budget also continues an unprecedented and historic investment in affordable housing and increases the City’s support for services aimed at easing homelessness – including more funding for winter warming centers and increased shelter beds.
The proposed budget is balanced, and the City’s property tax rate remains unchanged at $2.1556 per $100 of assessed value – the lowest tax rate since 1974.
“This budget allocates money and resources to address our most pressing shared community priorities, while also compassionately extending a lifeline to our most vulnerable residents,” Mayor Kincannon said.
The Mayor delivered her sixth State of the City Address at Covenant Health Park because the stadium project exemplifies her faith in the enduring strength of collaboration. Many partners worked together to build the publicly-owned stadium; Kincannon has long emphasized that it belongs to the people of Knoxville and improves the quality of life of residents citywide, while also creating jobs and hundreds of millions of dollars in new investments and new economic opportunities.
Mayor Kincannon’s proposed budget continues to prioritize the core values of her administration – ensuring public safety; enhancing healthy and connected communities; realizing a clean, resilient future; creating thriving businesses and good jobs; and providing high-quality efficient City services.
Read Full News Release
• 2025-2026 Budget Information
• 2025-2026 Adopted Operating Budget [PDF]
• 2025-2026 Six Month Financial Report [PDF] (coming Feb. 2026)
• 2025-2030 Capital Improvement Program [PDF]
• Budget Archive (budgets from years 2001-current)
January 2026 - Capital Budget Hearings / Meetings with Departments
February 2026 - City of Knoxville Budget Retreat and Six Month Financial Report released
March 2026 - Mayor's Budget Hearings
April 2026 - Mayor's State of the City Address and Proposed Annual Operating Budget released
April 2026 - City Council First Reading of Proposed Budget & Tax Ordinances
May 2026 - Knoxville-Knox Planning Commission Hearing on CIP
May 2026 - Legislative Budget Hearings & Public Hearing
May 2026 - City Council Second Reading of Proposed Budget & Tax Ordinances
June 15 2026 - Last Day to Approve Budget & Tax Ordinances
July 1, 2026 - New Fiscal Year Begins
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