The Queen Creek Town Council approved a $730.2 million budget for fiscal year 2022-23 at its May 18 meeting. That’s an increase of about 50% from the current year budget of $487.2 million. The vote was four to two, with council members Leah Martineau and Emilena Turley voting no. Mayor Gail Barney did not attend the meeting.
On Wednesday, June 1 the council will consider whether to keep the primary property tax levy rate at $1.83. The levy is set by assessing a $1.83 rate for every $100 of a home’s assessed value. The $1.83 levy rate is consistent with that of the last two years.
The new budget is derived by combining revenues and fund balances. Revenues are expected to rise to $368.4 million next budget year compared to $300.4 million this year. The fund balance is $361.8 million for the upcoming year, compared to $186.8 million from this fiscal year.
