Notice of Proposed Tax Increase for FY 2024/25 - Primary Property Tax Levy & Municipal Streetlight Improvement Districts Property Taxes
Published:
Apr 26, 2024Description:
UPDATE: May 9, 2024
After the original date of posting of this notice and written report (April 26, 2024), the proposed secondary property tax levy and rate have been adjusted to ensure debt coverage compliance due to lower than anticipated property tax collections in FY 2023/24. However, the secondary property tax levy and rate and the combined property tax levy and rate are still expected to decrease from fiscal year 2023/24. The written report linked below has been updated as of May 9 , 2024, to reflect those changes. No changes were made to the proposed increased primary property tax levy or proposed increased Municipal Streetlight Improvement District tax levies.
April 26, 2024
Pursuant to A.R.S. § 9-499.15, the City of Scottsdale hereby gives notice that for fiscal year 2024/25, it may increase its primary property tax levy over last year. The increase in the tax levy is due to 1) the 2 percent statutory adjustment; and 2) new construction but is partially offset by decreased tort liability claim payments of $1.3 million. However, due primarily to an increase in net assessed limited property values, the primary tax rate of $0.5150 may decrease to up to $0.4958 per $100 of assessed valuation to support its budget expenditures.
Additionally, the city hereby gives notice that it may increase the tax levies for the Municipal Streetlight Improvement Districts (SLIDs).
Links to the schedule of property tax levies and rates and written report supporting the proposed possible increase in the primary property tax levy, and the schedule and written report supporting the proposed increased tax levies for the SLIDs are included below (scroll down).
This notice does not mean that the city is increasing the primary property tax levy but that the City Council may discuss a possible primary property tax levy increase and decreased rate of to up to $0.4958 during the City Council Tentative Budget Meeting that is presently scheduled for the 5:00 p.m. Tuesday, May 14, 2024 City Council meeting at Scottsdale City Hall Kiva Forum, 3939 N. Drinkwater Boulevard, Scottsdale, Arizona.
A SLIDs Public Hearing and Property Tax Public Hearing are presently scheduled for the 5:00 p.m. Tuesday, June 4, 2024 City Council meeting at Scottsdale City Hall Kiva Forum, 3939 N. Drinkwater Boulevard, Scottsdale, Arizona.
Following that public hearing, formal adoption of the ordinances for the SLIDs and City Property Tax levies is planned to take place at the 5:00 p.m. Tuesday, June 25, 2024 City Council Meeting at Scottsdale City Hall Kiva Forum, 3939 N. Drinkwater Boulevard, Scottsdale, Arizona, and which is no sooner than 60 days after the posting of this notice.
The meetings listed are also broadcast electronically through Cox Cable Channel 11 and streamed online at ScottsdaleAZ.gov (search “live stream”). Please check the City Council website for the specific agenda for these meetings and the latest updates regarding meetings and the opportunity for public participation and comment.