Odessa aiming to keeping property tax rates the same

Odessa aiming to keeping property tax rates the same

ODESSA, TX (KWES) - The city of Odessa is meeting soon to discuss next year's budget, they say they're trying not to increase any taxes this year, they're actually trying to lower them.

The reason for that is our current economy. The city said their two big sources of revenue are property and sales taxes.

For the 2014-2015 year we saw $38 million in sales tax, for the 2015.-2016 year the city is expecting to see $31 million, a $7 million loss.

As far as property taxes, they're trying to keep those at the same rate we had this year, if not lower.

The city said our economy isn't extremely alarming right now, but they want to be conservative in case the bust continues.

They expect all services to Odessans to continue and no cuts are expected.

The budget hearing is Tuesday at 6 p.m. at the City Council Chambers and opened to the public.
Community members will have an allowed time to voice their concerns.

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