Property Tax Crisis Threatens Independent Businesses on Nashville's Lower Broadway
Independent businesses in Nashville's Lower Broadway district are facing a crisis as property taxes are set to increase significantly. Acme Feed and Seed and Layla's are among the businesses experiencing a spike in property taxes, with some facing a 300-400% increase. Other popular establishments like Honky Tonk Central, Honky Tonk South, and Friends in Low Places are also seeing substantial tax hikes.
The surge in property taxes is attributed to new assessments conducted in 2024, with bills sent out in October 2025 and due by the end of February 2026. Businesses with triple net leases are particularly affected as they are responsible for property taxes without a landlord to share the burden. The previous property tax assessments during the COVID-19 pandemic resulted in lower valuations, providing temporary relief to businesses. However, with the economy rebounding, property taxes are now spiking.
Property values are determined based on various factors such as square footage, location, and comparable properties, rather than actual revenue or profits. While an appeals process exists, businesses must pay the full tax bill upfront and await potential discounts or reimbursements. Mayor Freddie O'Connell's response to the situation drew criticism, with Councilmember Jacob Kupin expressing disappointment in the lack of support for affected businesses.
If the property tax increases remain in place, it could have a significant impact on Lower Broadway, potentially leading to higher prices for patrons and reduced benefits for employees. The future of these independently-owned businesses hangs in the balance as they navigate the financial challenges posed by the escalating property taxes.