El Paso adopts its fiscal year 2024 municipal budget

EL PASO, TX – The City of El Paso announced the adoption of its FY 2024 municipal budget and the approval of a tax rate with no new revenue, meaning the City Council will not raise property taxes.

The City Council reported that a budget was developed that is meticulously designed to ease the burden on property owners while ensuring that essential services and initiatives receive the funding necessary to improve the lives of all residents.

Local officials noted that by striking a balance between financial prudence and investment in key areas, the City of El Paso will be able to remain at the forefront of responsible and sustainable growth.

“This budget represents our city’s dedication to fostering a thriving community while easing the financial burden on our residents and businesses. By prioritizing property tax relief and responsible spending, we are cultivating an economy where everyone can thrive, and our city can continue to prosper,” said Mayor Oscar Leeser.

Interim City Manager Cary Westin, noted that one of the highlights of the FY2024 budget was the adoption of the No-New-Revenue tax rate, or the tax rate that does not increase property taxes for the City.

“The City recognizes that property taxes, along with recent inflationary impacts, has placed a burden on families and businesses and we are working diligently to reduce the financial burden on our community,” commented Westin.

“The passage of this groundbreaking City budget is a testament to the City of El Paso’s dedication to its citizens and commitment to being a forward-thinking and economically prosperous community,” said Chief Financial Officer Robert Cortinas.

The budget, according to the City Council, continues to support critical priorities identified by the Cabildo and the community, while maintaining a focus on long-term financial sustainability.

One of the significant elements of the new budget includes the addition of annual funding for fleet, major equipment, streets and facility improvements, thus minimizing the need to issue debt.

Highlights of the budget include three police academies and two fire academies to increase public safety staffing; also, $10 million for street resurfacing projects; another $14.4 million for vehicle and heavy equipment replacement; and $6 million for municipal facility improvements and repairs.

In addition, the budget includes operating funding for the new La Nube Children’s Museum, the Mexican-American Cultural Center, and the new penguin exhibit at the Zoo and Botanical Gardens.