Albuquerque, NM (KKOB) – An increase in the city of Albuquerque’s Gross Receipts Tax will be discussed and possibly up for a vote today by the City Council which would then go to voters in November.
The ordinance if approved, would ask voters to approve a 0.4875% tax increase which would raise the city’s sales tax rate from 7.625% to 8.113% and would generate roughly $113 million annually, which would be used for paying city workers and fund community projects. Council President Klarissa Peña and Councilor Brook Bassan are sponsoring the bill.
The same proposal was rejected back in March, but this time they will let voters decide if the increase will happen or not. The full council still has to vote on passing the ordinance first.
The meeting is this evening at 5 p.m. at the City of Albuquerque Government Center.
