Queen Creek Town Council Lowers Property Tax Rate Again!

The Queen Creek Town Council has once again shown its commitment to fiscal responsibility and resident support by lowering the town’s primary property tax rate for the second consecutive year. At the June 5, 2024 meeting, ordinance 840-24 was unanimously approved, reducing the rate from $1.72 to $1.63 per $100 of assessed value. This move continues to benefit existing residents by alleviating the tax burden as property values increase.

 

Key Highlights:

• Tax Rate Reduction: The primary property tax rate has been lowered from $1.72 to $1.63 per $100 of assessed value.
• Resident Benefits: This reduction is designed to maintain the amount of property taxes paid by residents at approximately the same level as last year, around $434 annually for a median value home.
• Cumulative Savings: Projected savings amount to $557 over a five-year period for residents.
• Historical Context: In 2022, the Town Council approved resolution 1500-22, which froze the amount of taxes paid by property owners, ensuring a gradual reduction in the tax rate as property values rise.
• Public Safety Funding: The primary property tax, dedicated to funding public safety, was initially approved by voters in 2007 and capped at $1.95 per $100 of assessed value. This cap has not been exceeded, and the town has been able to reduce the rate since 2020. The town’s strategy of shifting funding to the general fund, which includes sales tax revenues from both residents and non-residents, allows for continued support of public safety services without overburdening property owners.

What This Means for Residents

• Steady Tax Payments: Residents will continue to pay about the same amount in property taxes as last year.
• Ongoing Savings: With the tax rate reductions, residents can expect cumulative savings over the coming years.
• Enhanced Public Safety: Funding for public safety remains robust, supported by a combination of property taxes and general fund revenues.

For more detailed information on the town’s budget and to view Town Council meetings, residents can visit QueenCreekAZ.gov/Budget and QueenCreekAZ.gov/WatchMeetings.

Stay informed and stay engaged with Queen Creek’s ongoing efforts to support its residents through prudent financial management and community-focused initiatives!