Homes in the Foothill area and all over the valley are some of the highest property taxes across the country. April, 12 2011. Darryl Webb/AFN

Darryl Webb

In a unanimous vote, the Maricopa County Board of Supervisors followed their tax cutting pledge and set an overall tax rate no higher than last year’s, resulting in a nearly $33 million cut in property taxes for county residents.

The rate for the combined county-controlled operations will be $1.46 per $100 assessed valuation.

The county-controlled levy provides revenues for general government and support for the county flood control district and library district.

This year, it will comprise 11.7 percent of a homeowner’s tax bill. The bulk of the property tax goes to fund public schools, the community colleges, municipalities, the Maricopa Integrated Health System and special districts.

County officials said the action would result in a drop of about $13.63 on a median-priced home assessed at $102,000.

Over the past four years, Maricopa County has reduced its property taxes by $124 million. Property tax calculations are based on two-year-old (2010) assessments, which were set at the very low point of the housing market recession.

Property valuations are rising in the most recent calculations.

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