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Featured Listener Comments Section: Contents List |
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Listener: Mikel Ward
Category: Lubbock City Politics
Date: 27 Oct 2009
Time: 09:51:24 -0700
Remote Name: 68.91.16.232
Lubbock Voters Consider the Price
Would you add huge amounts to your credit card without checking your balance or
finding out how much more you will pay including interest? That’s exactly what
you are doing if you vote for the projects on the $61 million bond proposal
without knowing what we owe.
City debt, including interest, is currently over $1 billion. Every man, woman
and child owes about $4700 each. This is almost 4 times more per capita than the
average of 56 other cities in our area. We are paying back this enormous debt
primarily on our water bills, property taxes, and hidden franchise taxes on
phone, cable and electric bills. Another $167,845,000 will be borrowed very
soon, primarily for more water projects.
If we add $61 million more plus interest, you will pay over !0% more every year
on City property taxes. Even if you think this won’t affect you, businesses must
pass increased taxes through to customers. Please consider the above information
before you max out your City credit card for nice to have projects.
Mikel Ward
SPARTAN Chairwoman
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