Council raises taxes
The Ellis County Press
FERRIS – Faced with unprecedented inflation rates, the Ferris City Council voted last week to raise taxes, which would see residents’ tax bill increase an average of $50, according to City Manager David Chavez.
Two public hearings, however, are scheduled for Monday, Sept. 15 and Monday, Sept. 22 for residents to voice their opinions on the increase before adoption of the final budget.
"When they [council] noticed the projected shortfalls based on the rise of inflation in the last number of months, there was no choice but to raise the rate," Chavez said.
"The [tax] rollback rate is about [$0.77 cents]. The city had been at [$0.60] for three years."
In two budget workshop meetings last week (separate from regularly called meetings), the city council voted to adopt a 5-cent tax increase, which Chavez said would increase the total tax bill on a $100,000 home by $50.
"For most people buying a home, this increases represents a [$4.17] increase in their monthly payments," he said. "Now, if you compare [the] city tax rate with the school district, the difference is in the stratosphere. All factors considered, the city is still a very good bargain, tax wise."
Residents can make their voices heard on the tax increase in one or two public hearings scheduled for Sept. 15 and Sept. 22.
What is Inflation?
Inflation is the government printing of more money, which causes higher prices and devalues the dollar.
This summer saw record inflation rates, which increases prices from gasoline, bills and food, as well as consumer goods.