Look up at that graph there. I lifted it from the budget presentation that the City gave to City Council last week.
The City forecasts that General Fund revenues will fall short of expenditures by $17.5 million next year, and $22.4 million the year after that. $32.2 million in 2026, $33.9 million in 2027, and $55.9 million in 2028.
Twenty million here and twenty million there, and pretty soon we’re talking about some real money.
The General Fund is chiefly dependent on property taxes for revenues, so don’t be expecting too much property tax relief from the City in the years to come.
I don’t know the forecast methodology. I don’t know if City Hall is sitting on a mother lode, or if they are expecting imminent bankruptcy, or if the City has a rabbit hidden in their hat, but if I were City Council, I’d try to stanch the bleeding.
But that’s just me.
When they keep sequestering tax valuation in TIRZ districts and land giveaways, what do you expect? Every square foot of land in the city should pay its share of tax and not have different formulas for the investor class versus the rest of us.
Jerry K….You took the words out of my mouth. How is the City of El Paso going to cut costs…? For one thing, they can stretch out the hiring process for a new City Manager and whoever wants to fill this position within the ranks on a “temporary” basis. 18 to 24 months? Pay them $300K…take it or leave it. That will save $150K + Bennies (estimated at around another $100K a year), give or take about $10K. At least they won’t be paying $40K to have Tommy go to Dallas to have his “Executive” or “Concierge” service Health Checkup. Heck. If it is good enough for Jose the Garbage collector or Mary in Accounting, it must be good enough for the City Manager, right? A leader must lead from in front, right! Heck, if that individual is bold enough, they can go to University and get everything done there….our Taxes go there, right? Other thoughts… Perhaps ask the “Gayle & Woody Hunt Foundation” to help El Paso through this expected rough patch. The Hunt Foundation can write off this gift from their income tax since they run a 501(c)3 Non Profit. EVERY single Penny gets to be written off their Income! Then, the City of El Paso doesn’t have to burden the now-overtaxed citizens….Heck, they can even have a Gayle & Woody Parade down Montana street!!!!! Heck, we can even have a Paul & Alejandra Foster Donation. … They too will be part of the Parade….They have their own Foundation…I mean, the way the City is going, if something isn’t done with the outflow…brain drain….Foster and Hunt will be owning an empty Downtown. Oh yes, it will be crowded. But with people who live from paycheck to paycheck and carry a credit card load. Jerry K, any other ideas? I was also thinking of manhole covers with the name of Hunt or Foster on them. Telephone poles emblazoned with Hunt or Foster Corporate Logos. Se Vende Todo!!!!