The public hearing is stated as a tax increase by the City Of Mineral Wells. They are required to state it in that manner for the press release but the reality is that if you look below at the press release, it states that they will indeed be proposing to decrease the tax rate. Although, the average homestead taxable amount is increasing. So while the tax rate is lowering, the increase on the average homestead taxable amount has increased in a way that we will expect to see a minor increase in the amount of tax on an average homestead. Below is the official press release:
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