By CLINT FOSTER
Some say death and taxes are the only two certainties in life. In that same vein, another certainty is that the Mineral Wells City Council is now set to vote on Sept. 17 concerning a proposed increase in property taxes from 49 cents per $100 taxable property valuation to 51 cents – a 6.8 percent increase. If the City of Mineral Wells accepts the proposed increase, the tax rate will exceed the effective rate.
At a regular city council meeting on Tuesday evening, the city held a second public hearing regarding the tax increase, as is required by state law. No public comments were made and council members unanimously agreed to proceed as scheduled and vote on the proposal at the next scheduled meeting.
City Manager Lance Howerton explained the proposed tax increase will raise the total property taxes for the average Mineral Wells resident who owns about a $60,000 property by about $12 per year.
But what does this mean for the big picture of Mineral Wells taxpayers?
Will city property taxes be the only increase?
In fact, the city’s property tax is one of three taxes that are set to increase for Mineral Wells citizens in the next fiscal year. If approved, Palo Pinto County taxes could increase from 33.2 cents to 35.2 cents per $100 and Palo Pinto Hospital District taxes from 23 cents to 24.6 cents per $100, in addition to the proposed city property tax hike.
Conversely, Palo Pinto County Emergency Services District taxes are expected to go down, if only by .02 cents, from 2.99 cents to 2.97 cents. Mineral Wells Independent School District taxes will stay the same for now at $1.296 per $100 valuation. However, MWISD has proposed a bond for November with the hopes that they might raise school district taxes by about 12 cents per $100 valuation by next year, provided voters approve it in the upcoming election.
In all, the average Mineral Wells resident is expected to see a 5.32 cent per $100 valuation increase for the next fiscal year. To put things in perspective, that means an average $60,000 home owner will pay $31.92 more in taxes per year.
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