Primary Property Tax to Drop from $3.6999 to $3.63
By Pinal County
Pinal County residents will see nearly a four cent drop in their primary property taxes after the Board of Supervisors unanimously approved the 2018/2019 fiscal year budget in Wednesday’s meeting.
“I am pleased to see we are able to drop the tax rate,” stated Chairman Todd House. “It’s been an ultimate goal of mine since I have been on the Board of Supervisors. There have been past circumstances that have made it hard to do, but we are at a good point now where we can offer this to our citizens.”
The tentative budget, adopted in the meeting, is $451,709,402.
“We have several future capital projects such as the new Justice Courts that need to be renovated or built,” said County Manager Greg Stanley. “This is why the overall budget has increased by $45.6 million.”
In accordance with state law, once the tentative budget is adopted it cannot be increased. Although it can be decreased or reallocated.
Highlights from the Tentative Budget presentation:
- New construction valuation was modest over 2017/2018 with a 2.5 percent increase ($58.3 million).
- General Fund excise tax related revenue growth is trending strong at 7 percent over the year with the final quarter still remaining.
- General Fund Financial Stability Reserve estimated to be 15 percent at the end of the fiscal year.
- Enhancement of services by $4.1 million thanks to reallocations and increases in the General Fund.
The Supervisors will adopt the final budget later this month.