Mexico City Council has announced that property tax rates will remain unchanged for the upcoming fiscal year, despite a notable increase in the total assessed property valuation. The council reported a total valuation of over $187 million, up from $173 million last year, marking a net increase of approximately $13.5 million. The property tax rate will continue to be set at 0.7591 per $100 of assessed value, ensuring stability for residents.

The breakdown of the tax rates includes 45.91 cents for the general fund, 10 cents for parks and recreation, and 20 cents for public health. This consistency in tax rates has been evident over the past decade, reflecting a steady financial approach by the city.

In addition to property taxes, the council anticipates that sales tax revenues will remain comparable to last year's figures, while gross receipts and lodging tax revenues are expected to stabilize. However, a slight decrease in use tax is projected for the upcoming fiscal year.

The budget also addresses employee compensation, allowing for a 1% cost of living adjustment for all positions, along with a step increase for hourly employees and a 3% increase for exempt employees. The city will maintain its staffing levels at 84 positions, recognizing the hard work and dedication of its employees.

As the city prepares for the new fiscal year, these decisions reflect a commitment to fiscal responsibility while supporting essential services and employee welfare. The council's focus on maintaining stable tax rates and investing in its workforce is expected to foster continued community growth and stability.