Phoenix homeowners could see first property-tax rate increase in 20 years

Phoenix homeowners

Phoenix homeownersBy Dustin Gardiner | The Arizona Republic

After seeing their property-tax bills shrink for years — and then slowly start to grow again — Phoenix homeowners could face a more significant tax increase in the coming year, the first possible rate increase in about two decades.

For the majority of homeowners, city property taxes decreased starting in the 2010-11 fiscal year. Phoenix effectively lowered taxes by keeping its tax rate steady as home values plummeted during the Great Recession. Since the tax is based on home valuations, collections dropped.

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