Casa Grande addresses pension liability as debt falls
by Rodney Haas | Casa Grande Dispatch
The Casa Grande City Council approved a primary tax rate increase of seven cents per $100 net assessed valuation to help pay down the city’s unfunded portion of public safety retirement, although declining debt means taxpayers will pay less.
The new primary rate of about $1.06 will make a small dent in the pension deficit, projected at $48.4 million over a period of years.
The secondary rate, which repays bonds, falls to 27.5 cents — making the combined city total for property owners with a home valued at $100,000 to be $133.58 — which is a decrease of $25 from last year’s rate.
