Central Arizona College has a budget for the year beginning July 1 that calls for a slight tax decrease. Meanwhile, the college is expecting a little more funding from its local property tax: $1 million. That is the result of growth in total property values, and the college seems to be budgeting within its means.
A few years ago, the situation was different. Under a previous administration, the board sought to raise taxes significantly, which caused a backlash from voters.
When growth occurs in the form of new housing and commercial property, assessed valuation rises. However, there always is a lag in new property getting onto the rolls. And residential growth does not support government services to the same degree that new business does.
Also, when home values are rising, a cut in the tax rate may merely offset the rise in valuation. But that’s better than paying more overall.
CAC may not be the only Pinal County governmental entity able to edge its tax rate down. But it is doing the right thing.