SHERMAN, Texas -- The Sherman City Council will hold a public hearing for a plan to increase the city's tax rate at Monday's City Council meeting.
The plan would increase the rate by 2.4 cents for the coming fiscal year.
The increase would bring the tax rate up to 37.2 cents per $100 of valuation.
"The proposed tax rate will generate approximately $8.9 million in property tax revenues," according to the meeting agenda posted on the city's website.
So, residents who own a $100,000 home would pay $24 more dollars than they did last year.
"At the Budget Workshop in June, the City Council directed that the actual total tax rate be set to generate an additional $992,000 annually," according to the agenda.
The meeting will be held at 5 p.m. Monday at Sherman City Hall.
RELATED: Denison city manager says 'keep tax rate the same' (LINK to the RIGHT or ABOVE on app)