Video: Economic Growth Could Mean Tax Increase
STARKVILLE, Miss. (WCBI) -It’s all about progress, and progress costs money.
Home owners and business owners in Starkville and Oktibbeha County could potentially see an increase in taxes.
A city – county partnership for an Industrial Park site is one project that could add to the tax bill.
And the city of Starkville has plans to renovate old city hall for the police department.
Developer Dan Camp has contributed to the landscape of Starkville by building homes, apartments, and businesses in the Cotton District.
“Nobody likes to pay more taxes, but it happens to keep things functioning,” said Camp. “I don’t mind paying taxes if I’m getting the services for what I’m being charged for what the taxes are on.”
It’s going to take money to renovate the police department.
“So what they are proposing is a one mil tax increase defunded,” said Starkville Mayor Parker Wiseman.
Which is equivalent to.
“One mil would cost residents ten dollars on every one thousand dollars of property they own per year,” said Mayor Wiseman. “So if you own a one hundred thousand dollar house, it would increase your property taxes that you pay annually by ten dollars.”
Wiseman said he knows property owners don’t want a tax increase, however.
“In order to make this project work a one mil tax increase is necessary to finance,” he said.
Another tax increase may come with the joint city-county industrial project.
They currently have three sites to choose from.
“The supervisors elected to go with the number one option, which is the Strange Stanley Waldrop option up on (highway) 389,” said Joe Max Higgins, CEO of the GTR Link. “They ordered us to go ahead and start paperwork on a seven million dollar bond issue for their portion of that.”
But as of now, the city has its eyes set on another option.
“If we chose the option one project,” said Wiseman. “Then our board will commit to a maximum of 7 million dollars, if we choose the option two scenario, our board would commit to a three, three and a half million dollars because that site costs less.”
Now as of right now, it is uncertain how much of a tax increase the Industrial Park will cost property owners.
The city and the board of supervisors will discuss the Industrial Park project on May 17th.