Today the County voted:
1. to place on the November ballot a $396.6 million general obligation bond for UMC.
2. to place on the November ballot a $323.8 million general obligation bond for the County.
3. to raise the County property tax to the voter approval rate (the highest rate possible without voter approval).
In addition, the County is planning to issue a $174 million certificate of obligation before the November election. That is the largest in El Paso history.
If all the bonds pass and the County stays with the voter approval tax rate, the taxpayers will assume $894.4 million in new debt, which means more than $1.5 billion in principal and interest.
Our property tax will increase by 12.7 cents per $100 of property valuation, which is $279 for a home assessed at $220,000 (the projected average in 2025).
Only Commissioner Holguin pushed back against this insanity, the biggest tax increase ever!
Max Grossman was the only one who bothered to show up for public comment on the County bond.
Sad.