It's been a mainstay of local politicians forever: "I will keep the
tax rate flat" we're told. Great; too bad our property valuations went
up 7%. So if the tax rate remains "flat", then our taxes go up 7%.
That's just what happened this year. So, hey, they cut us a break - a
one cent reduction in property tax rate (about 1.7% reduction), so we
only had our taxes increase by a little less than 6% this year. Yay. By
the way, our taxes went up last year too, nearly 2%. You know, when they
told us (wonderfully) that the tax rate would remain the same.
Ok,
so when I was on the council, in 2009, we LOWERED taxes by leaving the
tax rate the same. Each of the next three years the tax rate was raised,
but the same taxes came in. Instead of a one cent tax rate reduction,
we should have received a four cent tax rate reduction - Our taxes would
have remained the same. Keep in mind, I am talking about existing
property. When new property comes on to the tax rolls, the city get's
more tax money, but without raising the taxes on existing property
owners.
That happened in 2012, when I voted to spend
160,000 on two additional police officers to enhance our public safety.
That additional money came from the 32 million dollars in development
that happened that year, not from already existing tax payers.
What's
going to happen in the future - a strategic plan that has a goal of
maintaining a flat tax rate... so as our property increases in value due
to strong demand in North Texas, and because people want to live in
Corinth, 4%, 5%, 10% increases in value could be the norm. So that
"goal" of a flat tax rate guarantees tax increases ad nauseum. My goal
is to keep the actual taxes paid by a homeowner flat, or at least below
inflation. That means when property values go up tax rates by default
should be coming down. And not just by a penny. By the way, inflation is
on pace this year to, well, deflate. Last year it was 1.4%; so why a 6%
increase in the taxes?
Help me put a stop to this!
Wednesday, April 29, 2015
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