Pima Co. Board of Supervisors tentative budget for FY 22-23 – Tucson, Arizona

Tucson, Arizona 2022-05-18 22:46:54 –

Tucson, Arizona (KGUN) — Pima County has one month left to finalize its budget for the 2022-23 fiscal year.

Before the final budget was adopted, the county administration announced a provisional budget plan that required state law to set maximum spending and minimum tax rates.

The draft budget shows a decline in property tax rates next year.

According to the draft, homeowners can expect to pay 13 cents less for every $ 100,000 of home value.

The county expects to get an additional $ 9.4 million from that low rate next year.

The increase in property tax and library district tax has been offset by a secondary “debt repayment” tax plunge, resulting in lower overall tax rates.

These taxes are set to cover more than a quarter of the county’s budget for the year.

This year’s total budget is $ 182 million less than last year, down 8.6%. Spending exceeded $ 2 billion in fiscal year 2021-22. This was due to the COVID-19 grant of $ 350 million and an additional $ 300 million in general funding for the retirement of public security and prison officers.

The budget will be finalized by the Pima County Supervisory Board on Tuesday, June 21st. Prior to adoption, the Board may reduce spending and corresponding tax rates.

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Pima Co. Board of Supervisors tentative budget for FY 22-23 Source link Pima Co. Board of Supervisors tentative budget for FY 22-23

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