DENISON, Texas (KXII) – In an effort to keep up with the budget, council members approved a proposed tax rate increase, all recommending to raise property taxes by 10 cents.
Inflation has hit just about everything pretty hard and the city of Denison is no exception. The recommendation to increase the property tax rate by 10 cents is equivalent to about an extra $18 a month for the average homeowner.
With all the growth the city is undergoing, the cost of the city is going up. “The hard part is we don’t receive revenues until we actually have structures completed,” said Mayor Robert Crawley. Revenue that the city is in desperate need of to keep the budget from going into a deficit.
Council members agree that now is the time to raise taxes. “We haven’t raised taxes in five years and in the last five years we’ve seen more inflation than we have in decades,” said Councilman Michael Courtright.
The mayor said that raising property tax now doesn’t mean that they couldn’t lower it again in the future.
A public hearing and adoption of the tax rate will be on September 3rd, that’s when citizens will get to tell the city what they think, and the city might keep the increased rate at ten cents, or possibly lower it.
News 12 will continue to follow this story.
Copyright 2024 KXII. All rights reserved.
