In accordance with Arizona statutes, the City of Maricopa has scheduled a public hearing and is notifying residents that the city will collect more in primary property taxes than in the previous year.
As required by Arizona Revised Statutes (ARS), which states cities must notify residents if its primary property tax income is expected to increase from one fiscal year to the next, Maricopa is informing residents through a Truth in Taxation Hearing and through weekly newspaper ads.
Maricopa's finance director Brenda Hasler says the city's anticipated increase is due to the rise in property values.
"The tax rate for property owners in the City of Maricopa will remain the same," Hasler said in a statement. "Due to increased property values the overall amount the City is proposing to collect will increase."
According to the city, its fiscal year 2017-18 property tax rate was $4.7845 per $100 of net assessed value. The city will maintain its property tax rate, but an increase in net assessed value of residential property within the city will cause the total primary tax levy to increase by $492,761. That figure is a 4.2 percent increase from the 2017-18 fiscal year, according to the city.
The Truth in Taxation public hearing will take place on June 19 at City Hall.