What does proposed property tax increase mean to voters?
At a press conference Monday, Columbia Mayor Bob McDavid proposed a new property tax increase as a way to raise funds to hire additional police officers.
Right now, the property tax rate is at a little over 6.6 percent in Columbia.
McDavid wants to raise it three percent, with 20 cents of every $100 going toward the City of Columbia.
He wants the additional 20 cents to go directly toward the 35 new police officers that he believes the city needs to stay safe.
So, he is asking voters how much they think their safety is worth. But what does it mean for taxpayers?
For the average home costing $150,000, the tax will mean paying an additional $70 per home.
And for the average $20,000 car, the tax would add an additional $13.
That brings the total to about an extra $70 per year.
McDavid wants to put the tax increase bill on the ballot in November.
Right now, the 162-member police department is operating on a $19.5 million budget. Most of that is generated by sales tax and some from property tax.
A spokesperson with the Missouri Municipal League said that property tax is a good funding source for police because it fluctuates less than sales tax.
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