City Council Deliberates Proposed Tax Rate. Assistant City Manager Laura Storrs Speaks at Podium. Photo via The City of Amarillo
Amarillo City Council voted 3 to 1 today to move forward with setting the tax rate for the upcoming 2022-2023 fiscal year. The proposed rate, $0.49086, would be a 10.7% increase over the current rate of $0.44334. The new rate includes debt issues passed by the council city as well as the legally allowed maximum increase before triggering an election.
At the heart of the debate over the item today was the inclusion of debt issuances within the item. While there were no arguments as to whether or not to include debt issuances for park lighting and relocating City Hall, the inclusion of debt planned to be used for the planned Civic Center project caught the attention of Councilman Cole Stanley.
Stanley noted that the debt has not actually been issued and that there is a chance that the issuance will not be legally allowed. As we have previously reported, the funding is currently being challenged in court by local businessman Alex Fairly. Additionally, the Attorney General’s office has yet to approve the issuance. (Stanley was the only vote against the issuance when the council approved the debt.)
“We are in a recession. I would prefer not to tax in advance,” said Stanley. “I would hope council would see the value in that.”
Stanley asked Assistant City Manager Laura Storrs to have answers to some questions he had on the issue for the upcoming public hearings on the city’s budget and tax rate, which are scheduled for August 16th and August 19th. “Do you have to do this, or could council direct you to put forth a budget that does not include this additional INS debt issuance, because it hasn’t been issued?”
Stanley was the only councilmember to vote against the proposed tax rate. Mayor Ginger Nelson was not present at the meeting, with Mayor Pro Tem Freda Powell chairing the meeting.
The public hearings are both scheduled for 1:00 pm at City Hall. If the proposed tax rate were to be increased further, the council will also be legally required to call an election on the rate during the August 19th meeting.
All other items on the agenda for today’s meeting, including numerous economic incentive agreements, passed unanimously.