Council sets 4-cent tax ceiling for FY25

0
147
Council sets 4-cent tax ceiling for FY25
From left to right: Vice Mayor Amy Jackson, Councilor Canek Aguirre and City Manager Jim Parajon. (Courtesy photos)
Facebooktwittermail

By Caitlyn Meisner | cmeisner@alextimes.com

At Tuesday’s legislative meeting, City Council voted unanimously to declare a 4-cent tax increase ceiling ahead of the fiscal year 2025 budget process, which, if enacted, would increase the property tax rate by 3.6%. City Manager Jim Parajon had proposed no tax rate increase in the budget he submitted to Council, though Parajon’s budget proposal included a 3.5% increase in the overall tax burden on the average resident due to fee hikes and increased property assessments. This 4-cent tax rate hike, if approved, would be in addition to the 3.5% increase proposed in Parajon’s budget.

Vice Mayor Amy Jackson initially proposed a 3-cent increase ceiling on real estate property, which was seconded by Councilor John Taylor Chapman. Councilor Canek Aguirre proposed a 6- or 7-cent increase, which was seconded by Jackson.

Aguirre said an increase in the rate was important since the city needs to look for additional revenue sources and recognized his proposal was high. Councilors cited the budget public hearing on Monday as a reason for proposing an increase, and engaged in a long discussion.

instagram
Facebooktwittermail