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How does Albuquerque’s tax rate compare to other cities?
Albuquerque has a lower gross receipt tax than many cities and communities in the state.
Of the five most populated cities and towns in New Mexico, Albuquerque has the second lowest rate at 7.62%, according to the Tax and Revenue Department. Neighboring Rio Rancho has a lower tax rate by .18%
If raised, Albuquerque’s GRT would still be lower than Santa Fe, Las Cruces, Roswell and Farmington.
Raising taxes?
In this world, nothing is certain except death and taxes.
The Albuquerque City Council considers tonight whether to raise gross receipts taxes by a fraction of a percent, potentially raising $113 million a year to invest in infrastructure projects, reduce city-imposed fees and give raises to underpaid city employees.
The proposal would raise GRT from 7.62% to 8.1%, a difference of .4875%.
The ordinance is spearheaded by Councilors Joaquín Baca and Brook Bassan.
Meanwhile, community members have flocked to the council meeting to speak either for or against the measure, with more than 30 people signed up for public comment.
A packed house
The council chambers are packed with attendees with nearly every seat in the house full.
Even more attendees are standing outside of the chambers watching the meeting on television in the lobby.
A bulk of the attendees are present for the proposed gross receipts tax changes and immigration ordinance, with nearly 70 people signed up to speak.
With a long list of public sign-up list and controversial legislation, expect the meeting to stretch into the late hours of the night.
What's on the agenda?
The Albuquerque City Council convened at 5 p.m. for its fifth meeting of the year.
Tonight, the council will discuss raising the gross receipts tax by a fraction of a percent as well as legislation to restrict Immigration and Customs Enforcement within the city.
The complete meeting agenda is posted online and can be accessed here.