Tyler city budget proposal suggests property tax decrease - KYTX CBS 19 Tyler Longview News Weather Sports

Tyler city budget proposal suggests property tax decrease

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TYLER (TYLER MORNING TELEGRAPH) - Tyler's new $96 million fiscal budget proposal suggests decreasing the property tax rate by a tenth of a cent, from 20.89 cents per $100 valuation to 20.77 cents.

The decrease is the same as the effective rate, the level at which revenues would equal the previous fiscal year.
The impact of the proposed rate means someone with a $100,000 home who pays $208.86 in taxes now will pay $207.71, about $1.15 less.

People with a $150,000 home will pay $311.56 instead of their current $313.35, a $1.79 decrease; while those with a $200,000 residence will pay $415.42 rather than $417.72 for $2.30 in savings.

This proposed reduction equates to a more than 60 percent reduction in property tax rates since 1994 when the rate was 53 cents, City Manager Mark McDaniel said.

In other budget highlights, rate hikes are suggested for water and wastewater services — 2 percent for water and another 7 percent for wastewater.

No changes are planned for solid waste collection, and city employees are being asked to pick up more of their costs for health insurance.
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