Deep in debt

The city’s 2017 comprehensive annual financial report is now available on the web.

One of the sad things it shows is that the city raised $251,591,361 from property taxes last year.

They spent $95,734,979 on debt service.

That means that 38% of our property taxes are going to pay for things that we owe money for.

We deserve better

Brutus

10 Responses to Deep in debt

  1. Riff Raff says:

    A better view would be the debt service to the TOTAL amount the city has taken in. That includes sales tax, fees, interest, etc. The city doesn’t just take in property taxes as a source of income.

    Like

    • Anonymous says:

      Sales tax “collection” in El Taxo is a joke, another scam perpertrated on the State, taxpayers. People who shop here from Mexico, have the Sales Tax refunded. The same for Illegals who live HERE. Citizens, Legal Residents who live HERE or in Mexico, have friends, family to get the Tax REFUNDS for them.

      Like

    • perspective says:

      better is a relative term

      Like

  2. Jud Burgess says:

    and how much of that $96,000,000 debt service covers interest on our debt?

    Like

  3. Anonymous says:

    In other cities, towns, States they have actual BUDGETS. In El Taxo they just fabricate, inflate Property “Values” and use that to increase taxes. In other places it’s not just Home Owners that are taxed to pay for all the politicians want. In El Taxo THEY don’t tax the idle rich, big business. Because that’s where the Campaign “Donations”, back pocket money comes from. Plus THEY hire Lawyers to prevent paying taxes. El Taxo voters just have to keep electing the tax, waste, spend, tax some more. people.

    Like

    • Disgusted says:

      The people you mention are not idle. They’re working hard to take our money through those public/private partnerships. They get away with it because everyone else doesn’t care or is too lazy to do anything about it.

      Like

      • Anonymous says:

        I stand corrected. 🙂 You got it right. US “Stupid, ignorant Peons” are at the mercy of the low-life POLITICIANS who prey on US in El Taxo, as well as various other leeches THEY provide for, support, are owned by.

        Like

  4. Anonymous says:

    When the rest of the “quality of life” bonds are issued, along with the other ancillary debt issued by city, these numbers will more than surpass half of what the city gets every year from taxpayers. Local politicians have for years issued debt as a means of bypassing voters and bringing major debt issues to votes that they then manipulate via third-party groups. It really isn’t “All Good” to spend several billions of dollars in debt service for a near 3/4 billion dollar bond issue that literally does nothing to improve anyone’s actual quality of life. I was just fine before they overspent on the newest aquatic center, and my life has not improved since it was built.

    The City of El Paso will file bankruptcy, the question is when, not if. Now watch as they go full-steam ahead to spend taxpayer money buying property and paying exorbitant legal fees to build an arena for the two wealthiest families in town to house their hobby soccer team.

    Apparently no one on city council can see past the next election, or someone would ask the obvious question, “What happens when most of our money goes to debt service?”. Of course, their answer will probably be to issue more debt.

    Liked by 1 person

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