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Property Taxes May Raise In Brazil For 2014

Residents of the city of Brazil could see their tax rates and property taxes increase throughout the next few years.

The Clay County Redevelopment Commission approved a lease agreement that would allow Brazil to purchase a $2.6 million bond for a special repaving project.

Details of the plan were discussed during an October meeting and would call for an increase in property tax.  Homeowners in the city currently pay $441 per year on residences assessed at $100,000.  That number would increase to $462 in 2014 and $474 in 2015 with commercial taxes being much higher.

Only the form of the lease has been approved but the deal may be closed soon.