Maricopa County approves $3.4 billion budget with reduced property tax rate
PHOENIX – The Arizona Legislature hasn’t yet finalized a budget for the upcoming year, but the state’s largest county has.
The four Republicans and one Democrat of the Maricopa County Board of Supervisors on Monday unanimously approved a $3.4 billion spending plan for the fiscal year that starts July 1.
The budget includes a property tax rate reduction of 5.5 cents to help mitigate the impact of rising home values. Per state law, the rate change still needs a final vote, which is scheduled for Aug. 16.
“The pandemic taught us how tenuous health and financial security are for too many in our community, and so we invested in those areas,” District 3 Supervisor Bill Gates, who serves as board chair, said in a press release.
The @maricopacounty Board of Supervisors voted to approve the county's budget today. See below for more information on the budget, primary property tax rate cut, and how it impacts property values.
— Maricopa County Assessor's Office (@MCAssessor) June 22, 2021
“At the same time, the board wisely chose to lower the property tax rate and reduce our pension debt.”
The budget also includes funding for 30 new positions for the Department of Public Health and $5 million for helping the homeless population.
“With additional funding for Public Health and a brand-new homeless initiative, I have no doubt we will make a huge, positive difference in the lives of our residents in the coming year,” Supervisor Steve Gallardo, the board’s lone Democrat, said in the release.