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Kilgore council ponders 3 cent tax hike

Kilgore council ponders 3 cent tax hike
Longview News-Journal
News
Friday, June 6, 2014 - 9:55am

The city of Kilgore could ask for a 3 cent tax increase next year to help counterbalance falling property taxes.

City Manager Scott Sellers said the city is beginning to set its fiscal year 2014-15 budget and thinks the tax increase might be necessary as a result of a midyear appraisal by the Gregg County Appraisal District that warned income would be down about $470,000 next year.

“We are to the point now that if we continue to cut, we will be asking which service do we cut, not what equipment,” Sellers said.

The city approved a 2 cent increase on the effective tax rate for the 2013-14 fiscal year after a similar decrease in property taxes. That time, revenues were predicted to fall about $300,000, Sellers said.

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