"Tempe Cesspool for the Arts"

aka "Tempe Center for the Arts"

People's Republic of Tempe to raise taxes again???

  The only thing certain about Tempe is they are always raising taxes and hiring more cops. If you love living in a socialist police state please, move to Tempe!!!

Source

Tempe council to mull proposal to raise property-tax rate

by Dianna M. Nez - May. 28, 2012 09:02 AM

The Republic | azcentral.com

The Tempe City Council is expected to review a proposal next week to increase the city's combined property tax rate by as much as 37 cents per $100 of assessed valuation.

The proposal would raise the property tax rate to between $2.14 and $2.16 from $1.79.

The council will discuss the tax-rate proposal at 6 p.m. Thursday in the council chambers, 31 E. Fifth St.

The primary rate, which mostly funds operations costs such as salaries, is proposed to increase to roughly 79 cents from 66 cents. The secondary rate, which funds repayment of bond debt to maintain city infrastructure, is proposed to climb to roughly between $1.36 and $1.37 from $1.13.

The median Tempe home value in 2012 is $124,500, according to the Maricopa County Assessor's Office. This year's property taxes on a median-value home at the $1.79 rate would be $222.86. This year's property taxes on a median-value home at the $2.16 rate would be $268.92.

If the council approves the proposed rate increase, it would come on the heels of a 39-cent increase the council approved last year.

City Manager Charlie Meyer explained to residents last year that the increase was based on Tempe changing its long-standing policy on property taxes. The policy shifted Tempe from a fixed property-tax rate, which for several years had stayed at $1.40, to a floating secondary rate.

Under the policy, the secondary rate would float according to the amount Tempe needs to collect to pay debt on bonds issued for capital assets and basic improvements such as street repairs, and to maintain a small debt-reserve fund.

As debt is paid off and home values increase and secondary collections rise, the rate would decline.

 


Tempe Center for the Arts

Tempe Cesspool for the Arts