Jon Johnson File Photo/Gila Herald: The Graham County Board of Supervisors will meet on Aug. 7 to decide on a proposed property tax rate reduction.
Contributed Article
SAFFORD – For the fifth year in a row, Graham County leadership is lowering the property tax rate. While the tax rate is going down, revenue from property taxes will still increase due to an increase in assessed property values.
In 2019, property owners paid $2.99 per $1,000 of assessed value. For a home assessed at $150,000 in 2019, the owner paid $448.50 in taxes to Graham County. The proposed 2023-2024 Graham County tax rate is $2.22 per $1,000. The taxes on a $150,000 home in 2023-2024 would be $333.00. This 25% reduction has occurred because of good stewardship, conservative financial policies, an increase countywide in total property values, new home construction, increased business and mine activities, and a healthy local economy. On average, approximately one-quarter of a property tax bill goes to Graham County with the remaining going to local schools, the community college, fire districts, and irrigation districts.
The Graham County Board of Supervisors will meet to decide on the proposed $2.22 tax rate on Aug. 7, 2023. Even though the tax rate will decrease, due to the increase in countywide assessed values, the proposed new tax rate will generate an overall increase of funds from last year. Arizona State Law considers this a tax increase and Graham County will hold a Truth in Taxation Hearing on Aug. 7, 2023, at 9 a.m. for the public to provide comments or ask questions. The Truth in Taxation Notices will be published in a local newspaper on July 22, 2023, and July 29, 2023.
For more information about Graham County’s proposed 2023-2024 budget visit https://www.graham.az.gov/Archive.aspx?AMID=37.
