Elizabethton Leaders Have Decided On First Reading, To Lower The Property Tax Rate But Increase Water Service In The 2015-16 Fiscal Year Budget. The Property Tax Rate Will Be Reduced By Two Cents To $1.80 Per 100 Dollars Of Assessed Value. The Water Rate Will Increase 9.6 Percent Which Was Less Than The 14 Percent Originally Recommended. A Final Vote On The Rate Hike Will Be Held July 9th.