Queen Creek council set to approve lower property tax rate

As the town approaches year three of its primary property tax freeze, the property tax rate is dropping again for Queen Creek homeowners.

In keeping with the freeze, the Queen Creek Town Council is expected on Wednesday to approve cutting the primary property tax rate from $1.63 to $1.55 per $100 of assessed value.

The town council meeting starts at 6:30 p.m. at the Community Chambers, 20727 E. Civic Parkway.

Queen Creek residents of a home with a median assessed value of $265,000 will continue to pay property taxes of $434, as they have since the freeze started. Those residents will save $166 in the fifth year of the freeze and a total of $557 over all five years.

In May 2007, Queen Creek voters approved a property tax measure to fund public safety, with the rate not to exceed $1.95 per $100 of assessed valuation. The town does not have a secondary property tax.

In November 2022, council voted to freeze the primary property tax amount paid by homeowners for five years, meaning even when the median assessed value of a home increases, residents will pay the same tax as they did the previous year. This in turn will continue to lower the property tax rate each year.

By the end of the five-year freeze, the property tax rate will have fallen to $1.40 per $100 assessed value.

Property tax revenue for the town increase only through new construction.

This coming fiscal year, property tax revenue on existing homes is forecast to bring the town $13.9 million, up from $13.3 million in the current fiscal year.
New construction will bring the town $900,000 in additional property tax dollars, up from $600,000 in the current fiscal year, for a total of $14.8 million.

Broken down by county, the property tax rate will raise an estimated $12.3 million from Queen Creek residents in Maricopa County and another $2.5 million from Queen Creek residents living in Pinal County.

The new fiscal year starts on July 1.

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