Mayor Margo vetoes El Paso city budget adopted by council, says tax rate too high

El Paso Mayor Dee Margo on Tuesday evening vetoed the city’s budget resolution which was passed by the City Council earlier in the day.

In his veto letter, Margo said the city had implemented significant tax increases each of the past two years and saida third straight year of increases would “go against basic fiscal oversight and restraint.”

The council passed a budget that included a tax rate of 90.7 cents per every $100 valuation of your home.

Margo wanted a rate that was no more than 86.3 cents.

He said that lower rate would be enough to overcome a shortfall of $7 million resulting from state legislation and the migrant influx which has affected bridge wait times and impacted state sales tax revenue.

Council is expected next week to vote on overriding the veto.