LUBBOCK, Texas (KCBD) – Lubbock Mayor Mark McBrayer and other council members presented possible changes to the city manager’s proposed budget during a work session Tuesday. No decisions were made on the budget as the council continues to work on next year’s plan.
The mayor said he would like to implement a property tax rate that does not generate any new revenue. This would ensure that the same revenue was generated in both years as last year from properties on the tax rolls. New properties or construction projects are not taken into account.
If the no-new-revenue tax rate of 46.6749 cents per $100 is adopted and the value of your property in Lubbock increases by an average of 5.2 percent, your property tax bill would be the same as last year.
To implement this rate, the mayor hopes to save approximately $2.5 million over the proposal previously put forward by City Manager Jarrett Atkinson.
There would still be pay raises for city employees, including police officers and firefighters. Council members discussed further possible savings and also asked what absolutely must remain in the budget.
These and other ideas presented Tuesday are part of ongoing work to develop a budget and set a property tax rate. The council has until the end of September to complete that task.
All rights reserved.
