BONHAM, Tex. -- The City of Bonham has scheduled a public hearing Thursday night at City Hall regarding the tax rate for next year.
City officials want the public’s input about a new tax rate of 67 cents per $100. All in all, it will amount to a 4.5 percent increase over the next year if approved, adding on $30,000 dollars to the city budget.
Officials say the reason for the increase is to keep workers in Bonham, a task which gets harder as the community grows.
Bonham mayor Roy Floyd says, "We talked about five percent in the beginning. We talked about 4 percent, but 4.5 percent at least gets them to the place where they could pay for their fuel that they burn and for their utilities so that’s something that we try to think about."
If passed, the new tax rate will take affect January 1, 2008.