Here’s the City of El Paso’s statement regarding City Council’s decision to issued $93 million of debt not approved by voters, according the El Paso Times:
The council’s action will “have no impact on the city’s tax rate,” a news statement from the city read.
Right. Because our appraised property values jumped, on average, by 13%. Even if the tax rate stays the same, you’re still going to have to pay ten percent more this year than you did last year.
City debt is the gift that keeps on giving.