(Source: ArizonaBusinessDaily)
Pima County’s board of supervisors recently authorized the jurisdiction’s fiscal 2017-18 budget, totaling over $1.26 billion, by a vote of 3-2.
At $5.97 per $100 of assessed value, a new combined property tax signifies a hike of 14 cents over the previous year’s budget and incorporates a Pavement Preservation, Roadway Surfacing and Repair Plan sourced through a 25-cent primary property tax for roads, according to a news release. It is expected to raise $19.5 million in revenue for repairs in incorporated areas.
Both parts of the tax will fund pavement and road repairs. Pima County officials stated that the 14-cent increase will translate to an additional $18 of annual property taxes for a homeowner whose residence is worth Pima County’s median value of $131,899.
County Administrator Chuck Huckelberry proposed that the tax remains in place for five years to raise $100 million for road repairs. After the first year, the increase would be balanced by reductions in the primary property tax, according to the release.
