Tax increase proposed by BS City Council

Staff Writer

The Big Spring City Council officially proposed about a 5-cent increase above the effective tax rate for the FY 2017-2018 during their meeting Tuesday night.
Council members proposed to set the tax rate at 84 cents per $100, up from the effective rate of 79 cents. The effective rate is the figure which brings in the same amount of tax revenue as the current year. That increase is expected to bring in about $159,717 in extra revenue, with most going toward debt service, according to Don Moore, city finance director.
The public can address the council about the proposed rate during two public hearings set for Aug. 22. and Sept. 12. Council members will hold a final vote over the proposed FY 2017-2018 rate and budget on Sept. 26.