CIty council approves property tax rate

El Paso city council approved the city budget and property tax rate at Tuesday’s meeting.

The new tax rate will mean higher costs for some homeowners, in order to make up for those who will be paying less.

The owner of home valued at $100,00 will have to pay about an extra $30 in annual property taxes. Council decided on the increase in order to allow for more homestead exemptions. As part of city-wide quality of life projects, the exemptions will specifically benefit homeowners who are older than 65 years old, or who are disabled.

An owner of a $100,000 home who qualifies for this assistance would see a property tax decrease of $53 per year.

According to city officials, nearly 46,000 homeowners qualify for the exemption.