The Maricopa County Board of Supervisors cut the county’s share of property taxes last week and tentatively approved a $324 billion budget for the upcoming fiscal year.
The board cut the county’s property tax levy by 5.5 cents per $100 of assessed value. For a homeowner with property assessed at $500,000, it would translate to an annual savings of $275.
After tentative approval of the budget last Monday, May 17, a public hearing will be held Monday, June 21, before the board votes on the final budget. The new property tax rate will be officially adopted Monday, Aug. 16, but the new rate has been factored into the tentative budget approved last week.
