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Lubbock council reviews FY2025-26 budget, tax-rate scenarios ahead of September votes
Summary
City Manager Jarrett Atkinson briefed the City Council Aug. 12 on property-tax options underlying the proposed fiscal year 2025'026 operating budget, including the no-new-revenue rate and the statutory voter-approval rate, but the council took no final action on a tax rate.
LUBBOCK, Texas — City Manager Jarrett Atkinson briefed the City Council Aug. 12 on property-tax calculations underlying the proposed fiscal year 2025–26 operating budget, showing how different rate choices would change the maintenance-and-operations levy and the dollar variance available to the General Fund.
Atkinson told the council the new-no-revenue tax rate would produce an M&O rate of about 0.345378 (34.5378 cents per $100 of valuation) and said the resulting levy was in the neighborhood of "81.1 million dollars," repeating that the council had previously levied and collected roughly $83 million but that returning to that total would be treated as a tax increase on paper. He also laid out the council's "voter-approval" rate (the statutory measure…
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