Midland County commissioners have decided to lower the tax rate for Midland County property owners, on what one of the commissioners labelled a "massive" scale. When commissioners found that projected revenues for the coming fiscal year would result in a major budget surplus, they did an amazing thing: They lowered our taxes. Can I faint, yet!
But seriously, I find it commendable that our local leaders found a way to meet all anticipated expenses for the coming fiscal year, then passed the savings BACK to the taxpayers (read: Voters!). This action is commendable because it is so unusual for political subdivisions to lower taxes in the face of a financial surplus. The "business as usual" approach would have been to seek out new things to buy or new programs to initiate. Instead, our commissioners decided to give the people a break.
I wonder how many other counties in Texas COULD also lower their property tax rates and still meet their budgetary needs, whether there is a major surplus or not. A booming economy and the corresponding increase in population often creates a rise in property values. This is what has happened in Midland County, as well as in several other counties that make up the oil patch known as the Permian Basin. I hope the commissioners in these other counties will follow Midland's example. The oil companies are benefiting from the current boom, so there is no reason that the "trickle down effect" should not provide some relief to local residents in the form of reduced taxes.
In some areas, various cities and counties have filed for bankruptcy. Particularly in California, where taxes are high and property values are even higher, there should be no reason for political subdivisions to be bankrupt. Unfortunately, government "surplus" (Unspent Tax Revenues) often leads to the creation of unnecessary and/or unsustainable government programs. Many such programs are born with the best of intention, but due to many factors, the cost involved grows beyond that originally anticipated. But public programs, once born, are so difficult to rein in when costs rise beyond reason, because politicians who want their jobs dare not vote to terminate these kinds of programs. Thus, in California and other states, we see city and county governments filing for bankruptcy while some states hover at the brink of financial disaster as well.
I commend the commissioners of Midland County for making the decision to lower our taxes. I know there were many things that this "extra" money (OUR TAXES) could have paid for. I also realize in time the local taxes will have to be raised again. The oil boom in West Texas will not last forever. As the profits fall, oil companies will begin sending their workers out of the area, or laying some of them off. But because of the sound decisions of the current Commissioners Court, the impact of the slowing economy will not be so great on taxpayers. Since county funded programs are operating at reasonable, sustainable levels, there will not be such a huge demand for increased revenues as the booming economy slows with decreased petroleum-based activities. Once again, thank you, Commissioners. I hope other governments, at all levels, will follow your example of responsible fiscal leadership.
But seriously, I find it commendable that our local leaders found a way to meet all anticipated expenses for the coming fiscal year, then passed the savings BACK to the taxpayers (read: Voters!). This action is commendable because it is so unusual for political subdivisions to lower taxes in the face of a financial surplus. The "business as usual" approach would have been to seek out new things to buy or new programs to initiate. Instead, our commissioners decided to give the people a break.
I wonder how many other counties in Texas COULD also lower their property tax rates and still meet their budgetary needs, whether there is a major surplus or not. A booming economy and the corresponding increase in population often creates a rise in property values. This is what has happened in Midland County, as well as in several other counties that make up the oil patch known as the Permian Basin. I hope the commissioners in these other counties will follow Midland's example. The oil companies are benefiting from the current boom, so there is no reason that the "trickle down effect" should not provide some relief to local residents in the form of reduced taxes.
In some areas, various cities and counties have filed for bankruptcy. Particularly in California, where taxes are high and property values are even higher, there should be no reason for political subdivisions to be bankrupt. Unfortunately, government "surplus" (Unspent Tax Revenues) often leads to the creation of unnecessary and/or unsustainable government programs. Many such programs are born with the best of intention, but due to many factors, the cost involved grows beyond that originally anticipated. But public programs, once born, are so difficult to rein in when costs rise beyond reason, because politicians who want their jobs dare not vote to terminate these kinds of programs. Thus, in California and other states, we see city and county governments filing for bankruptcy while some states hover at the brink of financial disaster as well.
I commend the commissioners of Midland County for making the decision to lower our taxes. I know there were many things that this "extra" money (OUR TAXES) could have paid for. I also realize in time the local taxes will have to be raised again. The oil boom in West Texas will not last forever. As the profits fall, oil companies will begin sending their workers out of the area, or laying some of them off. But because of the sound decisions of the current Commissioners Court, the impact of the slowing economy will not be so great on taxpayers. Since county funded programs are operating at reasonable, sustainable levels, there will not be such a huge demand for increased revenues as the booming economy slows with decreased petroleum-based activities. Once again, thank you, Commissioners. I hope other governments, at all levels, will follow your example of responsible fiscal leadership.
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