Scottsdale budget for 2024/25 reflects ‘fiscally cautious’ approach to coming year
Jun 12, 2024, 12:09 PM | Updated: 12:10 pm
A fountain with horse sculptures is seen in Old Town Scottsdale. (Pixabay Photo)
(Pixabay Photo)
PHOENIX – The Scottsdale City Council last week adopted what it is calling a “fiscally cautious” budget for the coming year.
The city’s 2024/25 year budget represents a 9.4% net decrease from the current fiscal year, according to a Monday press release.
City officials are trimming spending because they expect residential rental tax and state shared revenues to decline while inflation continues and consumer spending slows.
“The budget, which goes into effect July 1, takes a fiscally cautious approach to the year ahead, focusing expenditures on covering inflationary increases impacting capital projects, ensuring the city remains a competitive employer among peer cities, and improving public safety services by staffing a new fire station and launching city ambulance service,” the press release says.
Scottsdale reduces its budget and property taxes with a cautious eye toward the year ahead. 🌄 Scottsdale’s Fiscal Year 2024/25 Operating Budget and Capital Improvement Plan was adopted by the City Council on June 4. It goes into effect July 1. Learn more: https://t.co/pDZD9kFhQN pic.twitter.com/uw1IERWcY9
— City of Scottsdale (@scottsdaleazgov) June 12, 2024
City lowers property tax rate for coming year
As a result of the balanced budget, Scottsdale homeowners will see a slight decrease in their combined city-assessed property tax rate, from $9.814 per $1,000 of assessed value to $9.316.
The City Council approved the new budget and capital improvement plan during a June 4 meeting.
While the budget is trimmer than last year’s, the city is moving forward with multiple capital projects.
What spending is included in new Scottsdale budget?
For example, the 2024/25 capital improvement plan includes and expansion of the Granite Reef Senior Center, renovations for the Cactus Pool and Via Linda Police Station and the completion of Fire Station 612 in the Scottsdale Airpark area.
The City Council also authorized spending for 56 new fire Scottsdale Fire Department positions to staff the new station and help phase in a new municipal ambulance service.
The budget also includes funding for a comprehensive classification and compensation study that analyzes the pay structure for its 2,700 employees.
