What we each pay in property tax is a matter of public record, so I do not mind sharing my yearly tax bill, from 2012 through 2027.
During those 15 years, my total property tax increased from $7,224 to $9,744, an increase of 34.9%, with the steepest increase occurring during the last three years (23.9%).
During those same 15 years, which is half the term of my 30-year mortgage, I paid a total of $128,865 in property tax. By the time I pay off my home, I will have paid more in property tax than my home’s assessed value at the time of purchase.
Every El Pasoan who owns property has felt the pain of rising taxation as well as the frustration of having so little to show for it: poor roads and shabby medians, inadequate flood control, mediocre public schools, and public amenities that many families cannot afford.
Owners of residential apartment complexes pass their tax burden to their tenants, who have seen their rents spike sharply during and after COVID.
Many elderly El Pasoans can no longer afford to live in their homes and are selling them and leaving. Numerous renters have been forced to seek cheaper accommodations, and others have been evicted for breach of contract.
It has been widely reported that our city population has begun to decline, as thousands of families relocate to New Mexico, Arizona, or elsewhere in Texas in search of affordability.
Meanwhile, our local politicians, including several currently running for office, continue to insist we need to borrow and spend more in order to build even more amenities, retain our population, and stop the “brain drain.”
If our elected leaders do not start cutting spending and lowering our tax bills, the economy of our community will go into decline as depopulation steadily erodes our tax base.
Enjoy your Sunday.