While absorbing a decrease of $52.5 million in property tax revenues, Maricopa County Supervisors have approved a $2,278,653,993 budget for the fiscal year that begins July 1. It is a budget that maintains current service levels, envisions no employee layoffs or downsizing, and offers no employee pay raises. The supervisors adopted the budget Monday in a unanimous 5-0 vote.
The FY 2013 Budget is about $72 million lower than the current fiscal year.
Economic forecasts remain pessimistic in the Valley, county officials said. Revenues from sales and jail taxes are anticipated to be slightly higher next year, while vehicle license is expected to remain flat. Property tax revenue will decline steeply, as the anticipated levy is $52.5 million less than that of FY 2012.
Deputy County Manager Sandi Wilson that the steep revenue decline made it “another difficult budget season” for the county. Yet, county services will remain at the same levels. Supervisor Don Stapley pointed to the county flood control district for special commendation for its ongoing partnerships with municipalities on flood control construction projects.
Owners of a median valued home ($111,000) should see a decrease by $16.75 in the county-controlled portion of their tax bill while the rate is expected to remain flat at $1.2407 per $100 valuation. This is due to the steep decline in valuations. The overall primary net assessed valuation declined nearly 11 percent. When including the rate for special districts, the median valued homeowner should see a decrease of $19.82.
The supervisors agreed to some $387 million in capital projects and technology improvements, including the Sheriff’s Headquarters.