According to the Smith County Appraisal District website, in 2008 the TJC tax rate was 12.7169 cents per $100 valuation. If the $25 million of additional debt is approved and the proposed estimated 1.6 cent per $100 tax rate increase occurs then the tax rate per $100 valuation for TJC would be 19.8176 which amounts to an 8.78 percent increase over the 2011 tax rate and a whopping 55.8 percent increase since 2008.
The proposed allied health building may be a great idea and 1,000 additional parking spaces may be well needed but now is not the time to yet again increase our taxes. We are Taxed Enough Already.
Don’t the trustees realize that in 2013 everyone’s federal income tax brackets will increase by 50 percent if you are in the 10 percent bracket and 13 percent if you are in the highest bracket. In 2013 the death tax rate goes from 35 percent to 55 percent. For some taxpayers the capital gains rate goes from 15 percent to 23.8 percent and the tax on dividends goes from 15 percent to 43.4 percent. This not the time for TJC to hit us with an 8.78 percent tax increase.
Please rescind this decision to incur an additional $25 million in debt as I am sure that TISD, etc. will be wanting to borrow more money and increase our taxes yet again. Enough is enough.
William E. Wylie