Phoenix has announced plans to raise its primary property tax revenue by 1.22% compared to last year, potentially increasing costs for homeowners. For a home valued at $100,000, this translates to a slight tax increase of approximately $1.53, from $125.05 to $126.58. The additional revenue will support essential city services such as law enforcement, fire protection, and community programs.
The proposed tax change, which excludes impacts from fresh construction values, will be put to public scrutiny during a hearing on June 18, as stipulated by a notice issued by the City of Phoenix. The announcement specifies that the tax rate per $100 of assessed valuation remains static at $1.2658, making it clear that the increase residents will face arises not from a rate adjustment but from the overall growth in property valuations. This increase in assessed values is a key factor, generating additional revenue for the city while keeping the tax rate unchanged.
The core purpose of this adjustment is to maintain adequate funding for city operations. The steady primary property tax rate is directly linked to supporting essential services. According to the city’s budget office, these taxes help sustain everything from the peaceful city parks and public libraries to other vital community resources, ensuring Phoenix remains a safe, vibrant, and livable city…