By Mark Cowling | Pinal Central
FLORENCE — Thanks to a growing tax base, Pinal County’s new $1.1 billion annual budget will include an 11-cent cut in the primary property tax rate to $3.45 per $100 of net assessed valuation.
The Board of Supervisors Wednesday approved a tentative budget for fiscal year 2024-25, which begins on July 1. The board will hold a “Truth in Taxation” public hearing and consider final budget adoption on July 3.
Primary property value grew by 11.27%, mostly by increases in existing property values but also from $189 million in new construction. The county’s growth has allowed the board to cut the primary tax rate 30 cents over the last four years, Vice Chairman Jeffrey McClure, R-Eagle Crest Ranch, said.
