In a recent government meeting, officials discussed the pressing need for a tax rate increase to address the challenges posed by rapid growth in South Sherman, particularly due to new construction projects by Texas Instruments and Globotech. The city is currently in a unique situation where it will not receive tax revenue from new housing developments until they are completed, which could take several years.

Council members acknowledged the necessity of raising the tax rate, with discussions centering around a proposed increase of nine to ten cents. This increase is seen as essential to manage the city's immediate needs while allowing for future adjustments as revenue from new developments begins to flow in. The council emphasized that while the tax rate could be raised, it could also be lowered in the future if circumstances allow.

During the meeting, it was noted that a nine-cent increase would cost the average homeowner approximately $17 per month, while a ten-cent increase would raise that cost to about $18. The council expressed a desire to ensure that any tax increase would be accompanied by a clear plan for how the additional revenue would be utilized, with a commitment to prioritize community needs.

A public hearing was scheduled to gather input from citizens, allowing for potential adjustments to the proposed tax rate based on community feedback. The council members underscored the importance of transparency and community involvement in the decision-making process, recognizing the discomfort that comes with raising taxes but stressing the necessity of doing so to support the city's growth and infrastructure needs.