Bump in home prices means more revenue for city while tax rates shrink
| inMaricopa
Home values are on the rise in Maricopa, signaling more revenue gains for the city despite lower property taxes.
The Maricopa City Council passed the 2017-18 operating budget June 20, and among its revenue items the city has indicated an increase of more than $400,000 dollars in property tax revenue despite effective rates actually shrinking.
The primary property tax rate of 4.7845 percent ($4.7845 per $100 of assessed value) will remain the same, according to budget documents, while the secondary property tax rate will fall from 1.69 percent to 1.40 percent ($1.40 per $100 of assessed value).
