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Workshop
Tuesday, May 14, 2019
Gaisman Community Center
4221 Macon
6:00 - 8:00 p.m.
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Schedule an appointment for free tax prep by calling
2-1-1 or 901.415.2790.
April 2019
Collections and Investments

With tax season over and the onset of budget season, I am proud to report that due to the hard work of the staff in the Trustee's Office we had the highest collections in history for the month of March!   Property tax collections were $55,734,378, surpassing a prior high of $50 million for March, 2017 and despite a lower tax rate this tax year. March 31st represents the end of the 3rd quarter of the County's fiscal year.

Also, property tax collections as a percentage of the amounts billed are exceeding last year as of March 31st. The differences in percentages, although small, represent a lot of tax dollars.


3/31/2019
3/31/2018
Total
95.35%
95.14%
Realty
95.01%
93.94%
Personalty
95.27%
94.05%
SAP 
(State Assessed Properties)
100.12%
100.31%
PILOT
95.24%
97.71%

In addition to our historic collections, the interest earned on the investment portfolio of Shelby County continues to rise. The Trustee's Office is responsible for investing any County funds not being used at a particular moment.  

The interest rate earned on the Trustee's portfolio passed the interest being paid on the State's investment pool portfolio in December and has continued to exceed it. While the Fed Fund rate has risen 25% since 7/1/2018, the Trustee's portfolio interest rate has risen 37%.  Investment income last year was $8.5 million for the entire year, while this year's interest income has already exceeded $10.3 million dollars. Our estimate for total interest income by June 30th, the end of the fiscal year, is over $14.5 million dollars.

Please feel free to forward this email and all are encouraged to sign up for our email list at the link on the left.

Honored to serve,
 
Regina Morrison Newman
Shelby County Trustee 
April is Financial Literacy Month!

April is Financial Literacy Month and the Shelby County Trustee's Office is proud to announce the opening of the Greater Memphis Financial Empowerment Center (GMFEC).  The GMFEC will provide FREE one-on-one financial counseling to any resident of Shelby County.  

The Center is made possible by a grant from the Cities for Financial Empowerment (CFE) and the partnership of the Trustee's Office with Shelby County government, the Shelby County Assessor's Office, MLGW, and the R.I.S.E. Foundation with the financial assistance of United Way, the Assisi Foundation, and Bank On Memphis. 

The Greater Memphis Financial Empowerment Center, located on the ground floor at 254 Court Avenue, at Fourth Street, will have an on-site operations manager, certified financial counselors, and administrative staff to assist with scheduling financial counseling appointments. It is designed to be a resource center for Shelby County citizens in need of information and financial counseling. The counselors will also travel to various co-location partner sites throughout the County for the convenience of citizens.  

The prior programs promoted by the Trustee's Office - Project H.O.M.E., Bank On Memphis, and On My Own - will now operate under the umbrella of the GMFEC. For more information about the GMFEC, please contact Molly Polatty at 901-222-0206 or mpolatty@shelbycountytrustee.com.

In The News
PayIt Users Top 38,000
 
The payitShelby app, which handles electronic payments via our website or your smart phone, now has over 38,000 registered users. In February, over $53 million in tax payments were processed through payitShelby. For comparison purposes, that is 32 trays of mail which did not need hand-processing or overtime by staff.

Because PayIt has been an efficient method of payment and processing, our office will be joining the City of Memphis in a joint platform to collect property taxes, and potentially other fees owed to the County.  This will provide a more convenient way for taxpayers to pay all their taxes and fees without sending a check in the mail or making a trip downtown. 

Additionally, in the near future, we will be offering all taxpayers the option of receiving an e-bill via payit rather than a paper bill.


Trustee's Office & Regions Present "Big" Check to Shelby County School Board and Superintendent

On March 26, Trustee Newman and our friends at Regions Bank, Jackson Parrish and David Porras, presented a check of almost $150,000 to the Shelby County School Board and Superintendent Dr. Joris Ray.  This check stems from a rebate program the Shelby County Schools has with Regions Bank that is associated with credit card payments made to their vendors.
Trustee's Office Staff Updates

We are very sorry to say goodbye to Rachel Newman, who will be moving with her husband to Miami, Florida where he has accepted a faculty position at the University of Miami Law School. Rachel has done an excellent job serving as our Program Coordinator for the new Financial Empowerment Center, which has now come to fruition. Rachel is being succeeded by  Molly Polatty who comes to us from Orgwide Custom Learning Solutions most recently, and before that W.I.N. (Workforce Investment Network). Welcome Molly!

Newest Additions to Trustee Staff!  

In February, it was a pleasure to welcome Joseph Lee, Jr. to our staff as Director over Remittance, the Trustee's banking function. Joseph has previously served as Memphis City Treasurer, Memphis City Finance Director, and as head of MLGW. Joseph joined us in the last hectic month of tax season and has experienced trial by fire but came up shining. Happy to have Joseph on board!



Please welcome Erica Smith as the Manager over our Accounting Division. She has previously served Shelby County as an Auditor in Internal Audit, and as an Accountant at the General Sessions Court Clerk's Office, with three previous years' experience in accounting at Shelby County Schools. We are looking forward to her expertise here.

Looking For A Speaker?

The Trustee is available to speak at your event, civic group or community meetings throughout Shelby County.   Contact  Marnie Stewart  to schedule a time.

Shelby County Trustee | 901-222-0200 | P.O. Box 2751 | Memphis, TN 38101 
http://www.shelbycountytrustee.com