Port Saint Lucie taxpayers are now on the hook to help the city recover from failed investments.
City leaders approved the 18% tax raise on Monday.
Taxes will no longer be charged $5.62 charged per $1,000 of property value. Instead, residents will be charged $6.62 per $1,000 of property value. For a typical Port Saint Lucie home, valued at $100,000, the cost would go up an average of six to seven dollars a month and about $100 dollars a year.
Officials say the raise is meant to offset failed economic investments, which have cost the city millions. Those include VGTI, set to close this year, which the city paid $64 million in incentives.
The tax increase will go into effect this Thursday, which is the same day VGTI closes its doors for good.