Social Security Cost of Living Adjustment (COLA) went up 2.5% last year. The Consumer Price Index (CPI) for 2025 is stated at 2.9%. So why did City Council approve our three-legged stool of taxes (Property Taxes, Fire Service Assessment and Public Service Tax) by an increase of 13%-14% or $27 million – $30 million?
My personal impact of my Property Tax and Assessments is up 7.2% or $213.26. This raises my concerns that these tax increases are not proportionate to the cost of living and resident income based on the lower COLA and CPI rates stated above. I believe most residents have seen the impact of the troubled housing market with a significant downward adjustment to the market value of your property. Although our home values are decreasing, the city continues to support higher taxes and assessments. The city council has emphasized public safety concerns for higher taxes by increasing budgets for Fire and Police. The council and city manager will also argue that they did not raise the millage rate; it is important to look beyond the stated rate. Tax Revenue from Ad Valorem (Property Tax) still increased by $12 million or 8% due to increased “assessed” values from the Appraiser’s office. Like many residents, I value essential city services and want to ensure our community remains strong, but at what costs?…