By Mark Cowling | Pinal Central
FLORENCE – A tentative annual budget topping $1 billion was approved 4-1 Wednesday by the Pinal County Board of Supervisors.
Built into the budget is a 13-cent cut in the primary property tax rate. In a separate action, the board approved a 6% across-the-board raise for all eligible employees.
The board will hold a “truth in taxation” hearing before its final budget adoption on July 6. The board will formally adopt the tax rate in August.
The total budget of $1,017,055,235 represents an increase of $282 million over the old year. The biggest share of the increase, 45%, is economic development debt, which the board has yet to approve.
Last month, the board held a public hearing on its plans to raise $126.5 million through the sale of taxable revenue bonds. The board did not disclose the location or the industry, but is expected to release more information by June 22 when it considers a resolution to sell bonds.
