LUBBOCK, Texas — City Council on Tuesday voted unanimously to approve a $174.5 million bond proposal that aims to improve and widen 13 streets around Lubbock.
The proposal now heads to voters, who will vote to approve or deny the bond on Nov. 2. City Council asserts that a funding package for roads and sidewalks is overdue. The last time Lubbock asked voters for a bond proposal for street improvements was in 2009.
“This touches all parts of our community,” Mayor Dan Pope said. “Older parts of our community that we need to go back and rebuild, and fast-growth parts of our community that we need to build. It has a very small impact on the tax rate, and I think it is a very responsible way of dealing with our needs.”
If approved, the bond will result in a two-cent tax hike for Lubbock residents. For the average homeowner, that equates to approximately $45 over the next five years, or $9 per year for the next five years.
Per the Lubbock Chamber of Commerce, the 13 planned street renovations are:
- 34th Street from Avenue Q to I-27
- 34th Street from I-27 to Avenue A
- 34th Street from Quaker Avenue to Slide Road
- Erskine Street from four lanes to five between Avenue S and I-27
- 82nd Street from two lanes to three between I-27 and MLK Boulevard
- 114th Street from three lanes to five between Indiana Avenue and city limits, east of University Avenue
- 114th Street from two lanes to five between Frankford Avenue and Slide Road
- Milwaukee Avenue from two lanes to five between CR 6430 and 4th Street
- MLK Boulevard from two lanes to three between Loop 289 and 82nd Street
- University Avenue from three lanes to seven between 98th Street and 114th Street
- 98th Street from two lanes to three between Upland Avenue and Alcove Avenue
- Upland Avenue from two lanes to five between 4th Street and 19th Street
City Council also took the first step towards approving the budget for fiscal year 2021-2022. The proposed budget plans to decrease property taxes by two cents for a total rate of approximately $0.52.
City Council explains that rapid growth in the city allows the new budget to spread property taxes among more residents, resulting in a lower cost to the individual. With more homes and businesses coming to Lubbock, and a higher average appraisal value for those properties, the city may raise more revenue from property taxes.
“The growth in our community affords us the ability to not only fund our needs, but also be able to lower that tax rate,” Mayor Pope said.
The FY 2021-2022 budget raises $4.1 million more than in 2021, and new homes account for $2.19 million of that increase. Lubbock appraisal values grew 6.5 percent this year – higher than the average for Lubbock, but lower than the national average of 13 percent.
City Council will continue to hold working groups regarding the budget in the coming weeks.