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Socorro staff recommends publishing voter‑approval tax rate; final adoption set for Sept. 11
Summary
City staff presented three tax‑rate scenarios and recommended publishing the voter‑approval rate (0.645233) for notice and planning; council set Sept. 11, 2025 as the date to take final action on the tax rate and municipal budget.
City Manager Adriana Bodarte and finance staff presented three tax‑rate scenarios for FY 2025–26 and recommended publishing the voter‑approval rate for public notice and compliance.
Adriana Bodarte summarized the options: the current rate (0.6669) would bring in an estimated $12.7 million; the known new revenue rate (0.634377) would yield approximately $12.1 million; and the voter‑approval rate (0.645233) would bring in about $12.3 million. "This tax rate will bring in approximately $12,700,000 to the budget," Bodarte said while walking through the scenarios. Staff recommended using the voter‑approval rate for publication and planning because it preserves council flexibility (you may lower the rate later but cannot increase it after adoption).
Council scheduled final action on the proposed tax rate and municipal budget for Sept. 11, 2025, and staff noted the council will still be able to question and amend the budget at that meeting.
Why it matters: Publishing the voter‑approval rate begins statutorily required public‑notice steps and determines the notice that residents will see before final adoption. The decision affects the revenue estimate available for maintenance and operations and the debt‑service allocation in the proposed budget.
Next steps: Staff will publish the required notices and return to council with the formal adoption item on Sept. 11, 2025.
