El Paso City Council approves new budget and no-new-revenue tax rate
EL PASO, Texas (KVIA) -- The City of El Paso announced the adoption of its Fiscal Year 2025 budget, along with the approval of a No-New-Revenue tax rate.
Officials said the city adopted the No-New-Revenue Tax Rate of 0.761405, which represents a 5.7-cent reduction from last year’s rate.
The city had previously said the rate is designed to keep the city's revenue from property taxes at the same level as last year, despite rising property values. This means that while many homeowners have seen an increase in the appraised value of their homes, the proposed lower tax rate aims to prevent a significant increase in the city's portion of their tax bills.
KEY INVESTMENTS
- A $14.8 million boost for public safety, ensuring the Police and Fire departments are well-equipped to serve the community.
- A $2.3 million increase for Animal Services, supporting additional staff and the opening of the new Westside facility.
- A $1.1 million rise in Information Technology contracts, keeping El Paso at the forefront of digital innovation.
- Continued investment of $10 million in street resurfacing projects, along with $29.1 million in Pay-Go funding for capital replacements and facility renovations.
- Operating funding for new cultural and recreational amenities, including the La Nube Children’s Museum and the Mexican American Cultural Center.
Officials also said the budget also includes a $1 per hour increase in the minimum wage, raising it to $14.11 by March 2025. That's a 36% increase since May 2022.
For more information about the City of El Paso’s Fiscal Year 2025 Budget and Tax Rate, officials said you can visit the City’s Office of Management and Budget website.
