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PLANO, Texas – For the first time in 16 years, the city of Plano is raising property taxes.
What we know:
City council members voted on Monday night in favor of a 4.34% tax rate increase.
For the average homeowner in Plano, that will mean about $195 more in taxes each year.
The city cites slowing growth and higher costs for maintaining streets and buildings as the reason for the increase.
The hike will give the city about $16 million in extra revenue to work with.
What they’re saying:
“It’s time for us to have a buffer, and it is time for us to replenish some of the emergency funds that we basically have run out of because of all the storms and all the shocking surprises that we’ve had in the city,” said Mayor Pro-Tem Maria Tu.
The other side:
Only one person signed up to speak in opposition to the increase.
Jennifer Groysman said the increase equates to about a week’s worth of groceries for her family.Â
Her husband, a doctor who treats patients with long COVID symptoms, recently moved his practice to Plano and will also be affected.
“Is my husband supposed to raise their prices? That’s what all small businesses are going to do, because you all want to get every penny you can from us, because you’re not just raising our taxes, you’re raising our trash, our sewer, our water, our drainage. You’re also raising the cost of building and ownership, making it harder. Everything you’re doing and have done in the past has made the cost of living in Plano go up,” she said.
Groysman pointed to neighboring cities like Allen that are lowering rates.
Dig deeper:
The hike is actually lower than the city manager first proposed.
But some council members expressed concerns over recent moves in the legislature to restrict the ability of cities to increase tax revenue without an election.
What’s next:
The new rate takes effect on Oct. 1.
The Source: The information in this story comes from Monday night’s Plano City Council meeting.