The last year that MERC was taxed by the City was 2012. That year, the total net tax commitment, which is the part that drives the tax rate for residents, was $39,117,595. This year, it is $46,340,694. This means that the net tax commitment has gone up 18.47% in 7 years at an average rate of 2.64% per year. The claim has been made that taxes have gone up 30% since the closure of MERC; however, this is false.