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Importance

How do property taxes vary across the Valley? Valley Benchmark Cities ACMA Conference Brent Stockwell, Scottsdale David Swindell, ASU. Importance. Illustrates a community’s tax position relative to nearby municipalities

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Importance

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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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