Lookie here. That chart at the top of this article shows the difference in taxable property values from 1999 to 2017. From 2004 to 2009, El Paso enjoyed big increases in property values every year. Even double digit growth a couple of years.
But for the last five years, property values have been pretty flat, barely keeping pace with inflation.
Even if our city fathers had the best of intentions when they were making plans to sell us all these “quality of life” improvements, they’d have to admit that things have changed.
I wonder why none of them are stepping up to acknowledge that.
Why are we pursuing a plan that was concocted in 2005? Why are we so het up to build a $180,000,000 arena right now? We voted on those Quality of Life bonds when we were fat and sassy. We’re not anymore.
If this were war, we’d fire all the generals.
Last year the City’s share of property tax rates went up four cents. That 5.2% year on year growth. Electricity’s up. Water’s up. Fees are up. Are you making that much more money?
If we have to have that arena, can’t we wait till we can afford it?
Buying things on credit that we don’t need and can’t afford is not the El Paso way.
Except for government.
(Those charts came from a presentation the Interim Director of Financial Operations gave to City Council on January 23.)