Lubbock City Council Approves New Tax Rate and Budget

The Bristol, Tennessee City Council has proposed a property tax increase of $0.18 per $100 of assessed property value, raising the rate to $2.17. The initial vote passed with a 3-2 margin, with the final decision set for next Tuesday. Meanwhile, in Lubbock, Texas, the City Council voted 5-2 to preliminarily adopt a budget of $929.7 million and a property tax rate of 47.012 cents per $100, which will result in an average tax increase of about $15. This proposal, led by Councilwoman Jennifer Wilson, is higher than the no-new-revenue rate but lower than the initial tax rate proposed. Mayor Mark McBrayer opposed the increase, arguing for a no-new-revenue approach to protect taxpayers. Lastly, the Sioux Falls City Council is set to finalize a $781 million budget, with the first reading scheduled for tonight, as they approach the adoption deadline later this month.