EL PASO, Texas (KTSM) — El Paso homeowners will see higher property tax bills this fall, even as some local governments voted to lower their tax rates.
The City of El Paso approved a property tax rate of about 76 cents per $100 of value. While the rate is slightly lower than last year, city officials say rising home values mean the average homeowner will still pay about $83 more a year, or about $7 more each month in city taxes.
“The majority of the community told us their top priorities were first responders, police and fire, followed by streets and maintenance,” Laura Cruz-Acosta, spokesperson for the City of El Paso, said. “And then, of course, our quality of life amenities, particularly with the parks department. That’s where we’ve seen the majority of the community tell us they want property taxes to go toward.”
The El Paso County Commissioners Court set its tax rate at just under 46 cents per $100 of value. That’s roughly a 14 percent increase from last year’s rate. For the average homeowner, the change amounts to about $137 more a year, or $11 more each month.
The El Paso Independent School District kept its tax rate flat at $1.08 per $100, a move expected to save the average homeowner about $27 this year.
The city also expanded its homestead exemption for seniors and residents with disabilities, raising it to $45,000. City leaders say the exemption will save qualifying homeowners about $342 annually.
The new rates will take effect Oct. 1 and appear on property tax bills this fall.
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