Property tax hike in sight, after November bond election - KCBD NewsChannel 11 Lubbock

8/8/10

Property tax hike in sight, after November bond election

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By James Clark | email

LUBBOCK, TX (KCBD) - Lubbock property taxes are scheduled to increase for the coming year.  On Thursday the City Council has a proposal to raise taxes by more than three cents per hundred dollars of taxable value. 

In addition home values are up roughly two percent.  Bottom line, the average Lubbock home owner might expect a tax increase of $49, or more, on the city portion of his or her property taxes.

Officials say the property tax increase is exactly matched by what voters approved in the November 2009 bond election.  Lubbockites approved $43 million for street improvements and $7.5 million for new fire stations.  Water recreation and soccer fields did not pass. 

The public hearings on the tax rate are scheduled for Thursday August 26 and Thursday September 2nd; both at 7:30 AM and both in the City Council Chambers.

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