By Brandon Gray | KTAR
PHOENIX — One year after passing the largest tax rate cut in county history, the Maricopa County Board of Supervisors approved unanimously Monday it is cutting the county’s primary tax rate for a third straight year.
The rate will be lowered from 1.25 (or $125 on a $100,000 home) to 1.2 (or $120 on a 100,000 home), according to a press release from the county. Although property values are rising, the state statute does give supervisors the ability to set the property tax rate.
How much of the budget is being cut?
The board is cutting the overall county budget by 2.6% from fiscal year 2023. While some other counties are taxing as much as they are allowed under state law, Maricopa County’s tax levy is $232.8 million below the maximum, according to the press release.
Clint Hickman, board of supervisors chairman, District 4, said this budget is lean and focuses on providing “exceptional value to the taxpayer.”
“While we are careful about following our mandates, this Board realizes there are urgent needs in our community and so we have focused on spending where it will truly make it difference: providing housing, providing job opportunities, and protecting public safety,” Hickman said in the press release.
