El Paso's Property Tax Rates, Bond Proposals, and How to Prepare for the 2025 Tax Protest

Dear Homeowners,

As El Paso County voters approach the November ballot, property owners should be aware of six major bond propositions that could result in tax increases to support various projects. These proposals include countywide infrastructure upgrades, recreational improvements, public service expansions, and a dedicated bond for University Medical Center (UMC). This newsletter outlines each proposition, important dates, and steps to prepare for the 2025 tax protest season.

November 7, 2024, Bond Election Overview

Property taxes are essential for funding services such as education, emergency response, and infrastructure in El Paso. With bond proposals on the November ballot, it’s crucial for property owners to be informed about current tax rates, these upcoming votes, and how to prepare for the 2025 property tax protest. This guide provides a comprehensive overview to keep you prepared and informed.

On November 7, El Paso residents will vote on five county bond propositions and a separate bond for UMC, each of which could affect property taxes. Here’s a look at each proposition:

County Bond Propositions:

1. Proposition A: $95.6 Million for Parks and Recreation

   • Provides funds to enhance county parks, trails, playgrounds, and other recreational areas.

   • Approval would result in a small tax increase for property owners.

2. Proposition B: $26.7 Million for the Medical Examiner’s Office

   • Expands the Medical Examiner’s Office to accommodate population growth and improve services.

   • Estimated impact: about $5 annually for an average home valued at $200,000.

3. Proposition C: $63.3 Million for Courthouse Annexes and Community Services

   • Funds new courthouse annexes and community service facilities.

   • Estimated impact: approximately $12 per year for average-value homes.

4. Proposition D: $105.5 Million for El Paso County Coliseum Renovations

   • Supports significant renovations at the Coliseum, improving accessibility and facilities.

   • Estimated impact: around $20 annually for the average property.

5. Proposition E: $32.7 Million for a New County Animal Shelter

   • Establishes the county’s first animal shelter, aimed at enhancing animal welfare.

   • Estimated impact: about $6 per year on the average property.

Overall Tax Impact for County Propositions: If all five propositions pass, the combined increase could be approximately $60 annually for an average-value home.

UMC Bond Proposition: $396.6 Million for Healthcare Enhancements

Separate from the county bonds, voters will also decide on a $396.6 million bond for UMC, which includes plans for a new comprehensive cancer treatment center in partnership with Texas Tech University Health Sciences Center El Paso. Key details include:

• Cancer Treatment Center: $30 million allocated to equip the center with advanced cancer care capabilities.

• Tax Impact: If approved, this bond would add around $95 annually for the first ten years for the average homeowner, dropping to about $52 per year for the following 20 years.

Note: The UMC bond represents an additional tax increase beyond the county bond propositions.

Important Dates

Property tax bills in El Paso County were mailed out at the beginning of October, marking the start of the property tax season. Keep these important dates in mind:

• January 31, 2025: Deadline to pay property taxes without incurring penalties.

• February 1, 2025: Taxes become delinquent, and penalties and interest begin to accrue on any unpaid balances.

Timely payments can help you avoid extra costs, so mark your calendar with these deadlines.

Preparing for the 2025 Property Tax Protest

As valuations for the 2025 tax year are based on data from January 1 to December 31, 2024, it’s wise to begin gathering documentation now if you plan to contest your valuation. Here’s a checklist to get you started:

1. Collect Comparable Sales Data

• Finding Comparables: Look for similar homes that sold in 2024. These sales can provide benchmarks for your property’s valuation. Focus on properties of similar size, age, and location.

• Where to Find Data: Local real estate listings and consultations with a real estate professional can help you locate recent sale prices for comparable properties.

2. Document Repairs and Maintenance Needs

• Condition Matters: If your property needs significant repairs, these can influence its value. Document all necessary repairs with photos and contractor estimates to support your case.

• Evidence Collection: Keep detailed photos and written estimates as proof of your property’s condition, which will be helpful during the protest process.

3. Maintain a Detailed Property Record

• Document Features and Condition: Regularly update records of your home’s features, including square footage, number of bedrooms, and unique characteristics.

• Track Any Upgrades: Note all upgrades made in 2024, as these can affect the assessed value. Accurate records ensure your property details reflect its current state.

4. Consult with Professionals Early

• Why It Helps: Property tax consultants and appraisers can assist with comparables and assessing the impact of repairs, improving the strength of your protest case.

Organizational Tip: Create a digital folder for all photos, documents, and estimates to streamline your preparation when protest season begins in 2025.

Stay Informed and Vote on November 7, 2024

Your vote on these bond measures will shape the future of El Paso’s community infrastructure and healthcare. By staying informed on these issues and preparing for the 2025 tax protest, you can make knowledgeable decisions that impact both the community and your property taxes. Make sure your voice is heard—participate in the voting process and stay engaged in the matters affecting El Paso.

By exercising your right to appeal, you may reduce your tax liability for the upcoming year. Whether you choose to navigate the process independently or seek professional assistance, we are here to support you.

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Sincerely,

The Team at Freedom Capital Management

Helping You Navigate Property Taxes with Confidence