Lubbock City Council Adopts Higher Tax Rate
Lubbock homeowners will be paying more in taxes after the Lubbock City Council voted this week on a new property tax rate and budget for the 2023-2024 fiscal year.
After holding to the no new revenue rate last year, the Lubbock City Council voted this year to raise the property tax rate by 3.17%. The total budget for the 2023-2024 fiscal year came out to $968 million dollars. The only no vote to the budget and tax rate was District 3 Councilman Mark McBrayer.
According to KAMC, McBrayer voiced concern about increasing the tax burden on the citizens during rough economic times.
“When times are tough, the city’s policymakers should direct our city management to make decisions to control, and even cut, a budget in order to ease the tax burden placed on our citizens,” McBrayer said. “Maybe good economic times will return soon. I certainly hope so, but that’s not the reality that the average Lubbock household faces.”
City Manager Jarrett Atkinson was "excited" about the budget and changes that will come due to the adoption of the budget according to KAMC. The budget includes money for a 4% cost of living adjustment for city employees as well as money for more firefighters and police officers. The street maintenance budget will also increase from $12 million dollars to $13.5 million.
According to KAMC, the average Lubbock homeowner will pay an additional $103 dollars for the year due to the tax increase. The budget and tax increase take effect October 1, 2023.
Lubbock County Commissioners previously voted to increase the tax rate for Lubbock County homeowners with the average homeowner having to pay an additional $64 a year.
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