By Colleen Sikorski | The Arizona Republic
Glendale residents will see their property tax rates increase in July, although they might not pay a higher dollar amount.
The Glendale City Council formally approved the property tax increase and the 2014 budget for $576 million Friday. The property tax will increase by 38 cents per $1,000 in assessed value. The current rate, $1.90 per $1,000 in assessed value, will rise to just under $2.29.
Residents may not actually pay more in property taxes “due to the unprecedented property devaluation during the past few years,” said Sherry Schurhammer, director of the city’s financial services department.
Those whose home values did not plummet significantly during the recession will pay more in property taxes, which Schurhammer expects will boost revenue to the city.
