Last week we ran an article stating that Garcia was comparing “apples to oranges” in his alarmist advertisement in last weekend’s Kerrville Daily Times. This weekend, Baroody and Garcia have teamed up to take a swipe at Kerrville United by placing apples in their weekly advertisement and have doubled-down on the misleading information they are offering voters.
As you’ll recall, the vast majority of Kerrville’s debt is “secured” via ad valorem tax revenues so that we can pay as low of an interest rate as possible. But ad valorem (property) taxes do NOT pay for the vast majority of our debt service. Most of our debt service is paid for by utility revenues and 4B sales tax dollars. However, Baroody and Garcia continue to preach the gospel of fear by comparing Kerrville’s debt levels to cities that have very little in common with Kerrville. The ad also fails to tell voters that the debt, although secured by taxes to minimize our interest payments, is not all paid with tax revenue.
Stay tuned for a comprehensive article on this subject later this week. Our article will include ALL of the information along with easy-to-follow citations so that readers can understand the entire picture of the city’s finances rather than the bumper-sticker versions presented each week by Baroody and Garcia.