Monday evening the Lubbock City Council will have the first reading of the 2011/2012 budget which includes a tax hike and increases in monthly rates for services.
City Council will also consider raising property taxes by 1.783¢ per $100 assessed valuation. Even before a rate hike, the average Lubbock home will increase in valuation from $111,684 to $113,931. If approved, the higher valuations coupled with the rate hike will result in higher taxes of more than $30 for the next year.
Property taxes would then generate an additional $3.1 million over the current budget, which would be used in part to fund the hiring of 15 new firefighters.
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