Tax rate drops in Florence Anthem for the first time
by Mark Cowling | Florence Reminder & Blade Tribune
For the first time since the town formed community facilities districts in the Anthem area more than 10 years ago, the secondary property tax rate in each of the two districts has gone down.
The rate in each district has always been $3.55 per $100 of assessed value. It is now $3.28. Town Council members, who also act as the board of directors for each district, approved the lower rates Monday. A new state law limits the amount of cash on hand a CFD may have.
A CFD exists to pay for infrastructure and debt service for the development of a given area. It allows a developer to sell homes at more competitive prices because he’s not trying to recoup the costs of streets and other public works up front in the selling price. The tax rate includes 30 cents to the town of Florence to reimburse its costs to maintain and operate the district.
