DENISON, Texas -- At Monday evening's city council meeting, Denison City Manager Robert Hanna suggested that the city keep the tax rate the same for the 2015 fiscal year.
Currently, the city's tax rate is 0.65 percent.
For 2014, the city saw an increase in property values by nearly $51 million. The spike could be attributed to a better economy and/or a competitive housing market as more people move to the Texoma area.
These higher property appraisals generated more revenue for the city.
Often times, Hanna says, a city will lower its tax rate for the coming fiscal year when it had an overly successful prior year.
By lowering it, the city would rake in the same amount of revenue as it did the prior year.
But keeping the tax rate the same, he explained, will continue to generate more revenue for the city.
"We're not raising the tax rate," Hanna said. "The net effect is those people who have a higher appraised value on their home or property will pay more in taxes."
And those people who didn't see an increase in their property value won't see a difference in their taxes at all.
That tax money will go toward the funding of various departments -- like police and fire.
In addition, the money will also go toward much needed projects.
"We're going to be able to have additional revenue without having a tax rate increase that we'll be able to use to fund streets, parks and maintenance," Hanna said. "All those services that government provides at a level that I think our community is asking for us to provide them at."
Hanna said that as of right now, the city could be doing a better job at maintaining good street conditions and litter abatement.
He hopes that if the council keeps the tax rate the same, it will alleviate these problem via adequate funding.
As for what citizens might think, Hanna says he can understand why some people might be upset to see taxes go up.
"No one wants to see their taxes go up," he said. "But it's part of life."