POSTED: Wednesday, August 12, 2009 - 4:12pm
UPDATED: Thursday, February 25, 2010 - 12:32pm
In a time when foreclosures are happening more and more frequently, there's even more bad news for property owners.
City management in Brownsville is now proposing an increased property tax rate.
This to help eliminate the city's budget deficit.
Brownsville city leaders are proposing a two cent tax increase on all property, including homes, land and businesses.
City Manager, Charlie Cabler says, the current tax rate is about 65 cents per $100 of assessed valuation.
For the 2010 year, they're proposing it go up two cents to 67 cents per $100 dollars of assessed valuation.
Cabler says the average Brownsville home is about 80-thousand dollars, so currently property owners are paying about four dollars and 51 cents.
If the proposed tax rate gets the green light, property owners who own an average 80-thousand dollar home will now have to pay 16 dollars and 5 cents per year.
That's about a twelve dollar difference.
Cabler says it's important the tax rate goes up because Brownsville is trying to balance their budget, and this additional money will bring in about one million dollars to the city.
City Commission will be holding a series of public hearing meetings for residents to come and speak out about increased property taxes.
The next meeting will be on August 18th.
We'll be sure to keep you updated, if commissioners vote in favor of the two cent increase.