EL PASO, Texas (KTSM) — The El Paso City Council adopted its Fiscal Year 2025 budget which includes what the City is calling a “no-new-revenue” tax rate, the City announced on Tuesday, Aug. 20.
The City said the new FY 2025 budget includes a “no-new-revenue” tax rate of 0.761405, which represents a 5.7-cent reduction from last year’s rate.
“This achievement is made even more significant to help offset the significant increase in property valuations” that many homeowners are seeing, the City said.
Mayor Oscar Leeser said: “This marks the second consecutive year that we approved a budget with no tax increase, demonstrating a sustained commitment to fiscal responsibility while continuing to invest in the community’s future.”
Interim City Manager Cary Westin said the budget reflects a balanced approach to maintaining the City’s financial health while addressing the needs of the growing community.
“The Fiscal Year 2025 budget exemplifies El Paso’s dedication to smart governance, protecting taxpayers, and investing in the services and infrastructure that matter most,” Westin said. “The City has strategically utilized current year surplus savings to reinvest in the budget, paying off debt early, and ensuring that El Paso is well-prepared for the challenges ahead.”
The FY 2025 budget includes the following highlights, according to the City:
A $14.8 million boost for public safety, ensuring the Police and Fire departments are well-equipped to serve the community.
A $2.3 million increase for Animal Services, supporting additional staff and the opening of the new Westside facility.
A $1.1 million rise in Information Technology contracts, keeping El Paso at the forefront of digital innovation.
Continued investment of $10 million in street resurfacing projects, along with $29.1 million in Pay-Go funding for capital replacements and facility renovations.
Operating funding for new cultural and recreational amenities, including the La Nube Children’s Museum and the Mexican American Cultural Center.
The budget also includes a $1 per hour increase in the minimum wage for City employees, raising it to $14.11 by March 2025. That represents a 36 percent increase since May 2022, the City said.
“This adjustment reflects the City’s commitment to fair compensation and supporting the City employees who serve our community every day,” the City said in its news release.
“The FY 2025 budget is a blueprint for a vibrant and stronger El Paso,” said Robert Cortinas, chief financial officer and deputy city manager for internal services. “By strategically addressing financial challenges and making smart investments, we are ensuring that our City continues to thrive, both now and in the future.”
Read: Read More