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Council hears proposed FY2026 budget and sets Sept. 11 date to adopt tax rate and budget
Summary
Deputy City Manager Victor Perez presented proposed FY2026 tax-rate options and budget projections; staff recommended the voter-approval tax rate and council set Sept. 11, 2025 at 6 p.m. for final action on the tax rate and municipal budget.
City staff presented the proposed fiscal year 2025–26 tax-rate calculations and budget framework to the Socorro City Council on Sept. 4, and the council formally announced it will take final action on the tax rate and municipal budget on Sept. 11, 2025, at 6 p.m.
“ This tax rate is the one that the staff is recommending for adoption,” Victor Perez, deputy city manager, said while reviewing three tax-rate scenarios, the no-new-revenue rate, the voter-approval rate and an alternative. The presentation included these figures: the no-new-revenue tax rate at 0.634377; the voter-approval rate at 0.645233; and…
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