Dallas “Pension Fund Panic” As Mayor Warns Of 130% Property Tax Hike To Avoid Collapse

– Dallas “Pension Fund Panic” As Mayor Warns Of 130% Property Tax Hike To Avoid Collapse:

“This is much like a Bernie Madoff scheme, if you ask me,” said Dallas mayor Miek Rawling discussing the collapse of the local Dallas Police and Fire Pension Fund. The Dallas pension board wants the city to contribute $1.1. billion in 2018, but to do that, they would have to increase the property tax rate by 130%.

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