STANFORD - Property taxes will not increase more than usual this year after City Council members voted against a recommended 4 percent increase Tuesday.
The rate would have increased taxes from $0.123 per $100 of assessed value to $0.126, or added about $2.40 on an $80,000 home.
The raise would have generated about $4,812 in revenue for the city, money Mayor Eddie Carter was hoping to get.
"I don't think any citizen can say we haven't cut and cut and cut, and laid off employees, and this is the cost of a pack of cigarettes," said Carter. "We're in a financial crisis, people."
Council member Steve Lucas was against the tax hike, saying the extra money would not go far enough to cover expected raises in health insurance premiums this November.