Title
Adoption of Property Tax Levy for 2018-19 Fiscal Year (Ordinance S-44869)
Description
An ordinance levying separate amounts to be raised for primary and secondary property tax levies upon each one hundred dollars ($100.00) of the assessed valuation of the property subject to taxation within the City of Phoenix for the fiscal year ending June 30, 2019.
The ordinance (Attachment A) provides for a primary property tax levy of $163,218,253 (a General Fund revenue source) equating to a rate of $1.3163 per $100 of assessed valuation, including $0.08 for maintenance of parks and playgrounds and $0.3163 for the operation and maintenance of libraries; and an estimated secondary property tax levy of $102,186,555 (used only for debt service) equating to a rate of $0.8241 per $100 of assessed valuation. The total rate is $2.1404, down from $2.1600 last year.
Report
Concurrence/Previous Council Action
The proposed 2018-19 property tax levy reflects actions taken by the Council on the budget at the May 22, 2018 Policy meeting, at the June 6, 2018 Formal meeting to adopt the tentative 2018-19 budget, and at the June 27, 2018 Formal meeting to adopt the final 2018-19 budget. At the June 20, 2018 Formal meeting, a public hearing on the proposed primary property tax levy was held in accordance with statutory truth-in-taxation requirements.
Department
Responsible Department
This item is submitted by City Manager Ed Zuercher and the Budget and Research Department.