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Laredo council sets tax rate at 0.506080; managers say number balances budget and limits cuts
Summary
The council approved a proposed tax rate of 0.506080 (50.608¢) after staff explained updated no‑new‑revenue and voter‑approval calculations and Council discussed tradeoffs between services and street repairs.
The city’s tax department reported corrected tax‑rate calculations and recommended a proposed rate to meet the fiscal year budget. Tax staff said the no‑new‑revenue rate changed from 0.491946 to 0.492235 and the voter‑approval cap from 0.522026 to 0.522329 (per $100 of assessed value). Tax Department staff said the management recommendation to set the rate at 0.506080 would meet budget needs while remaining below the voter‑approval cap.
Council members debated the policy tradeoffs of choosing lower revenues versus preserving services such as street rehabilitation. One council member noted that each penny of tax rate yields roughly $2.6 million for the general fund and staff said moving one additional cent would generate about $2.6 million. After discussion the council moved, seconded and approved the proposed rate. Management said the budget keeps rates trending downward while addressing known pressures such as public safety and infrastructure needs.
