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I saw this on the news a day ago. It looks like they took the opportunity to use it to get more cash for other things as well.
Stevo
TYLER, TX (KLTV) -
The City of Tyler approved a property tax hike in this morning’s city council meeting, as part of an overall approval of the 2013-2014 fiscal year budget.
The unanimous vote raises property taxes 7.2%, to a level of 22 cents per $100 valuation.
“This is a very responsible, needed approach,” said city council member Martin Heines.
Officials said part of the increase will be going towards paying higher healthcare costs brought on by Affordable Care Act reforms, which require them to pay for items not covered before.
“Things like carrying dependents until the age of 26,” said Tyler City Manager Mark McDaniel. “We have to pick up pre-existing conditions now, plus having to insure part time employees next year as well. It's just kind of a growing, ballooning cost that just like private business, the city is starting to have to pick up.”
It is something Longview is looking at too, but so far there has been no impact on their taxes.
“There's still so many unknowns of how it will ultimately impact cost going forward,” said city spokesperson Shawn Hara. “They've tried to be really conservative in terms of setting aside funds for covering those costs in the future.”
Tyler’s tax increase will generate $849,414 in extra revenue out of an overall $61 million budget.
About $100,000—or 12%--of that new property tax income will go to healthcare costs. But a majority--$658,000—will go to recurring expenditures, such as street maintenance and traffic management. Another $92,565 will go towards re-instating two employees who’s positions were frozen during the recession,
The City of Tyler approved a property tax hike in this morning’s city council meeting, as part of an overall approval of the 2013-2014 fiscal year budget.
The unanimous vote raises property taxes 7.2%, to a level of 22 cents per $100 valuation.
“This is a very responsible, needed approach,” said city council member Martin Heines.
Officials said part of the increase will be going towards paying higher healthcare costs brought on by Affordable Care Act reforms, which require them to pay for items not covered before.
“Things like carrying dependents until the age of 26,” said Tyler City Manager Mark McDaniel. “We have to pick up pre-existing conditions now, plus having to insure part time employees next year as well. It's just kind of a growing, ballooning cost that just like private business, the city is starting to have to pick up.”
It is something Longview is looking at too, but so far there has been no impact on their taxes.
“There's still so many unknowns of how it will ultimately impact cost going forward,” said city spokesperson Shawn Hara. “They've tried to be really conservative in terms of setting aside funds for covering those costs in the future.”
Tyler’s tax increase will generate $849,414 in extra revenue out of an overall $61 million budget.
About $100,000—or 12%--of that new property tax income will go to healthcare costs. But a majority--$658,000—will go to recurring expenditures, such as street maintenance and traffic management. Another $92,565 will go towards re-instating two employees who’s positions were frozen during the recession,
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