Corpus Christi Council addresses $7M tax revenue loss from housing authority transactions

During the City Council meeting on May 13, 2025, significant concerns were raised regarding recent transactions by the Corpus Christi Housing Authority that have removed substantial taxable properties from the city’s tax rolls. City officials revealed that these transactions could lead to an initial loss of $3.5 million in property tax revenue, potentially escalating to $7 million if all transactions are finalized.

City representatives emphasized that these actions were taken solely by the Housing Authority and were not authorized or voted on by the City Council. This lack of oversight has raised alarms about the financial implications for the city’s budget and the potential impact on community services.

The council is committed to ensuring transparency and clarity regarding these developments, as they could significantly affect the city’s financial health. As discussions continue, city officials are focused on addressing the budgetary challenges posed by these unexpected losses and are seeking ways to mitigate the impact on local services and infrastructure.

The meeting underscored the importance of communication between city entities and the need for collaborative oversight to prevent similar situations in the future. As the council moves forward, they aim to engage with the community to keep residents informed about the financial landscape and any necessary adjustments to the city’s budget.