The owner of an average-value home in El Paso would pay about $105 more in city property taxes to fund the first draft of next year’s proposed budget, city leaders said Wednesday.
The El Paso City Council kicked off its budget sessions this week. The budget, and the property taxes needed to fund it, are in the early stages.
Robert Cortinas, the city’s chief financial officer and deputy city manager, presented a preliminary tax rate of 78.3 cents per $100 property valuation at a City Council meeting Wednesday. That means, based on preliminary figures, that the average-value home of $233,549 would pay $1,785 in city taxes next year. This year, the average home within the city limits was valued at $221,191 – putting the city’s tax bill at $1,680…