Congratulations to the City of Wylie, Mayor Eric Hogue, city council members and the City Manager Mindy Manson for somehow finding enough money to give us a 6.7 cent tax rate decrease, when all along they said they couldn't, shouldn't, wouldn't go with more than a 2 cent decrease.
It's amazing how the money just finds itself, but for now I will put the snarky in the pocket for a moment and thank them for realizing how much they have been hurting Wylie's taxpayers. They finally listened to us.
I will also take back calling our Mayor the tax-whore, because he worked to lower our rate, not just to the effective tax rate, but slightly lower than that. This is finally good news and taxpayers should celebrate heartily.
That said, I can explain how easy it was for them to make this shocking move.
Firstly, they discovered that the double-digit appraisal hike we received was near embarrassing at nearly 14%, especially considering the city manager proposed the budget based upon a 9% increase. Secondly, based upon that massive increase, the city stands to make a bundle off all those poor suckers who are buying new homes in Wylie. Finally, because the city was getting mighty tired of having their reputation mired by all this tax talk. It's looking like they will not be the highest taxed city in Collin County anymore, and for that I am fairly certain they are breathing a sigh of relief.
Now let me allay some fears about "future increase" chatter that always seems to make the rounds when talking with ill-informed people. The effective tax rate is a two-way street. When a city lowers their tax rate to meet that, the total tax payment homeowners make stays relatively the same. Should property values decrease, they can increase taxes to the effective tax rate and guess what? The total taxes paid will stay the same. That's the beauty of of the effective tax rate.
Not only did the city determine that they could meet the effective tax rate, but they are attempting to beat it as well. Isn't it funny how much of a difference two weeks make when council claims they simply cannot lower taxes more than two cents, and suddenly find 6.7 cents to give us? Kind of makes you wonder why they have been sticking it to us for so many years in the first place, but I digress.
The point of this post is that we the people should be jubilant today, for we are winning. Now if only the other taxing entities would fall in line, that would be great. But in the meantime, the city of Wylie is doing their part to make Wylie one of the best places in all of North Texas to live. Well done.