PRESCOTT -- The Yavapai County Board of Supervisors in its Monday meeting is expected to approve the county's $191 million fiscal year 2013-14 budget, and will hold a "Truth in Taxation" hearing because the budget includes a tax increase.
After working the numbers, the board ended negotiations with a $4.3 million revenue gap. It intended to make that up by increasing the primary property tax levy by 7.78 percent, which is the same levy it used in fiscal year 2010-2011. The change will generate $43.1 million in revenue, or $3.6 million more. That means a home valued at $100,000 was expected have an increase of $13.93 on its tax bill.
But homeowners were not expected to receive a higher tax bill, because the board also authorized cuts to the Flood Control district and Library districts, so those entities will lower their levies by the same amount.
However, some further adjustment may be required, because the Yarnell Hill fire destroyed enough property to have an effect on collected property tax. Supervisor Chip Davis, chairman of the board, said late last month that the board might have to raise taxes slightly to make up for the loss. Whether the board could compensate for that increase is unclear.
State law requires a Truth in Taxation hearing be held any time the board wants to raise the property tax.
Monday's meeting starts at 9 a.m. at the County Administrative Building Services building, 1015 Fair St. in Prescott, and can be viewed by teleconference at the County Administrative Services Complex in Cottonwood at 10 S. 6th St.