EL PASO – Mayor Dee Margo touted the addition of about 4,500 jobs this year.
The city’s unemployment rate dropped slightly to 4.9 percent.
Margo also noted that El Paso is second in job growth in Texas at 3.3 percent, behind the Dallas metropolitan area, which is at 3.6 percent.
Between 2013 and 2015, sales tax revenues increased from $75.6 million to $81.6 million, and the city projects that this fiscal year’s sales tax revenues will total $84.6 million.
Single-family homes, which make up 70 percent of the city’s tax base only contributed an anemic 1.4 percent increase in the city’s property tax base this year, though.
El Paso home sales are also up, said Dan Olivas, president of the Greater El Paso Association of Realtors.
Olivas said that home sales have increased to 3,913, or 325 more than this point in 2016, a 9 percent increase.
According to Olivas, average home prices have increased $10,000 compared to 2016.