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It's not bad - promise! Here's an example below:Your home is valued at $150,000. Your current CITY tax portion is: $782.55. Increasing the tax rate by three pennies will change that to $827.55, or $45 more per year. Breaking that down weekly, is 0.87 cents in increase. Of course, that example is only for a $150,00 home. You'd have to calculate for any other value.
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The City of Henderson hasn't increased the tax rate in 14 years; the last time it was increased was 2004.
The current tax rate for 2018-19 is 0.521700.
The City of Henderson has depended on appraisal values to increase, in order to increase revenue for the City. However, appraisal values haven't increased at the same level as costs to operate and maintain our city, thus the need to increase the tax rate.
Raising three pennies in the tax rate will generate roughly an additional $210,000 of revenue into the general fund. This will help street maintenance, police, fire, animal center, stormwater maintenance and more!
M&O stands for Maintenance and Operation. This is what makes up the general fund, which includes police, fire, animal center, animal protection, parks, administration, finance, stormwater and streets. Basically, everything except water, wastewater and solid waste.I&S stands for Interest and Sinking. In other words, it's debt service. This covers any debt that the city has, such as certificates of obligation and general obligation.