DENISON, Texas (KXII) – To stay within budget, council members approved a proposed tax increase, with all recommending a 10 cent property tax increase.
Inflation has hit pretty much everything pretty hard, and the City of Denison is no exception. The recommendation to increase the property tax rate by 10 cents equates to about $18 more per month for the average homeowner.
As the city grows, so do its costs. “The difficult thing is that we don’t have any revenue until the buildings are actually completed,” said Mayor Robert Crawley. Revenue that the city desperately needs to avoid a budget 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 higher inflation than we’ve seen in decades,” said Council member Michael Courtright.
The mayor said that the current increase in property taxes does not mean that they cannot be reduced again in the future.
A public hearing and adoption of the tax rate will take place on September 3. During this hearing, residents can give their opinion to the city and the city may keep the increased tax rate at ten cents or even reduce it.
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