Tax hike proposed for City
POSTED: Thursday, June 27, 2013 - 8:49pm
UPDATED: Thursday, June 27, 2013 - 8:52pm
El Paso, TX (KTSM) — El Paso's city manager released her proposed budget for 2014 Thursday, and it could mean another tax hike to cover costs lost from Western Refining property tax revenues and the police/fire pension fund.
City Manager Joyce Wilson is proposing a 2.5799 cent increase per $100 valuation.
On a home worth $100,000, that results in a payment of $684.20 for the year, about a $25.80 hike from 2013.
Wilson cites a need to cover the loss of $2.9 million in tax revenues from Western Refining, after they sued the Central Appraisal District for overvaluing their property.
The City also needs to cover $12 million dollars for the police and fire pensions, and an increase in the debt service of $5.9 million which includes some costs from the relocation of city hall.
Budget hearings begin July 9th.
To see the full fiscal year 2014 budget book, click here.