Wichita Falls Chief Financial Officer Jim Dockery says the proposed tax increase is about one cent more than the current tax rate.
He says a property owner with a $100-thousand home would pay $10 dollars more per year.
"This will generate about $460-thousand to the city's general fund for primarily three areas of expenditure," Dockery says.
That would include $140-thousand to the airport debt service, hiring a crew and buying equipment for upkeep of the state right-of-ways in city limits, and upgrades in code enforcement.
State law requires city leaders to set two public hearings before a tax change vote.
The second and last public hearing is set for next Tuesday, Sept. 11 at 8:30 a.m.
The tax increase would be for the 2012-2013 fiscal year, which starts Oct. 1.