Commissioners To Consider Property Tax Increase - KLTV.com - Tyler, Longview, Jacksonville |ETX News

7/30/06-Tyler

Commissioners To Consider Property Tax Increase

There hasn't been a property tax increase in Smith County since 2001, but tomorrow, commissioners will vote on a rate hike. According to Commissioner David Stein, the proposed rate is 1/100th of a cent below the roll-back rate. That's the rate at which voters could petition the increase.

The proposed tax rate is 26.8275 cents per $100 valuation on your home. That's 5.4% percent higher than the current tax rate of 25.447 cents. That means if you own a $100,000 home, your taxes would go up by $10.00 dollars this year. For a $150,000 dollar home, the increase would be $15.00.

Commissioner Stein says that every penny increase on the tax rolls means a million dollars to the county in revenue.

The court is also expected to hear a recommendation from the jail committee to postpone a new bond election until at least May.

Lindsay Wilcox, Reporting. lwilcox@kltv.com

 

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