Monday, December 27, 2010

City Plans Backdoor Tax Hike! MONDAY DEC 27 7:30PM MEETING

The City Council meets Monday night at 7:30PM to discuss issuing certificates of obligation to BORROW the money WE THE VOTERS DENIED them in the November Bond Election. Wilmer Citizen Activist predicted this in our article (click here) on November 3 - No joke folks the City is going to double or triple your taxes and you don't have anything to say about it UNLESS you will sign the petition to force an election BY THE PEOPLE to authorize or deny these debt payment obligations.

One of the things about these types of notes, once issued, constitute existing debt which must be satisfied prior to considering the city's budget and computing the effective tax rate. In fact, these debt obligations "come off the top" before figuring the maximum property tax rate (called the rollback rate). So for the purpose of taxation, existing debt obligations are included before figuring the "tax rate". What this means is that the City can cause your taxes to double or triple, all the while conforming to state mandated maximum increases on a year-to-year basis.

CLICK HERE to print a copy of the petition to circulate for signatures in your area - become a Block Captain and sign up your fellow citizens who resent unfair taxation and the City Administration's complete disregard for the will of the voters.

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