Lubbock City Council Approves New Tax Rate and Budget
Lubbock City Council Approves New Tax Rate and Budget
Lubbock City Council Approves New Tax Rate and Budget
News summary

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.

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