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Understanding Property Tax Variability in Valley Benchmark Cities

Explore the variations in property taxes across benchmark cities in the Valley to analyze tax burdens, tax rates, and the importance of tax levies. Gain insights for informed council decisions and economic development strategies.

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Understanding Property Tax Variability in Valley Benchmark Cities

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  1. How do property taxes vary across the Valley?Valley Benchmark Cities ACMA ConferenceBrent Stockwell, ScottsdaleDavid Swindell, ASU

  2. Importance • Illustrates a community’s tax position relative to nearby municipalities • Highlights the intraregional variation of tax burdens within a single community • Can be combined with other tax district information to examine the burden of “stacked” tax rates • Can be integrated into business expansion and retention policy discussions • Provides useful information to council • Helps inform council as to the relative importance of tax rates versus levies

  3. Inter-regional Variations Focusing on municipalities and single family owner occupied homes

  4. Initial Focus on Municipalities Source: Maricopa County Treasurer, 2013 Annual Report, p. 2. This is the allocation of the August 2012 property tax levy. 4

  5. What is the composition of each city’s tax base? Source: Maricopa County Assessor, 2013 State Abstract (August).

  6. FY 2013/14 Combined City Property Tax Rate per $100 assessed value 0.78 0.86 1.15 1.27 1.29 1.44 1.81 1.82 1.90 2.29 2.49 Source: Maricopa County Finance Department, 2013 Tax Rates 6

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  8. Inter-regional Variations It isn’t really about the rate…it’s about the levy.

  9. Combined Property Tax Levy (in millions) 5.7 6.4 11.1 18.3 22.1 24.0 27.6 37.5 62.4 180.3 Source: Maricopa County 9

  10. Combined Property Tax Levyper resident ($) Source: Maricopa County Finance Dept. 2013 Tax Levy Book; Arizona Office of Employment and Population Estimates, July 1, 2013 estimate 10

  11. Inter-jurisdictional Variations From the taxpayer’s perspective, it’s not only about the municipality.

  12. Countywide Allocation of Property Tax Levy Source: Maricopa County Treasurer, 2013 Annual Report, p. 2. This is the allocation of the August 2012 property tax levy. 12

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  15. Combined Property Tax Rates by School Districts/City Median County Rate 12.66 Source: Maricopa County Finance Department. Does not include State Aid Credit to owner-occupied residential properties. 15

  16. Intra-jurisdictional Variations Zooming in on equity and economic development considerations

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  22. Lessons Learned and Looking Forward

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