| Item Title: | Budget & Fiscal Policy - Proposed Tax Rate for FY2022 |
| Submitted By: | Wallace Hardgrove, Executive Director, Budget and Fiscal Policy Department (915) 546-2262 |
| Subject: | Pursuant to the Property Tax Code, § 26.05(d) propose a tax rate, or pursuant to the Property Tax Code, § 26.05(a), adopt a tax rate for El Paso County. |
| Background: | The No New Revenue Tax Rate as calculated by the Tax Assessor Collector was $0.470181 per $100 taxable property value. The tax rate being recommended for proposal is the Voter Approval Tax Rate of $0.482502 per $100 taxable property value and is composed of a maintenance and operations tax rate of $0.444331 and an interest and sinking tax rate of $0.038171 per $100 taxable property value and is in accordance with the financial policy. |
| Fiscal Impact: | This tax rate will levy approximately $229.5 million in tax revenues for tax year 2021 which will be utilized for fiscal year 2022 day to day operations of the County as well as the required annual payment of bonded debt. The proposed tax rate could result in approximately $5.8 million more in revenue than the No New Revenue Tax Rate. |
| Recommendation: | Propose the Voter Approval Rate of $0.482502. |
| Prior Action: | N/A |
| Strategic Plan: | .. |
| Strategic Plan Information: | |