Source: Tom Scanlon, East Valley Tribune
Last May, Mesa City Council was told the $100 million Mesa Moves transportation bond would add $28 on a median homeowner’s tax bill.
However, five months after Mesa voters approved the bond, there’s been an update.
The owner of a median home ($279,000 value) is now expected to pay only about $10 more in taxes compared to last year. This is thanks to all the new construction that has expanded the tax base, lower borrowing rates due to the city’s AAA rating and other factors.
City Manager Chris Brady clarified it by saying, “The way I like to pitch it is it’s $10 for the whole year to add $100 million of street improvements.”
Mayor John Giles credits the City of Mesa’s management and staff.
“The reason this is $10 and not $28 is the actions of our staff,” Giles said.
Last year, the owner of a home valued at $279,000 paid about $160 in Mesa taxes; this year, that will rise to $170.
The city will collect around $45.1 million with a tax rate of $1.1319.
In 2014, Mesa owners paid a levy rate of $1.1853, totaling $33.4 million. While the proposed rate of $1.1319 is 5 percent lower than the rate paid seven years ago, the city is collecting $45.1 million from taxpayers, a whopping 35 percent more than it collected in 2014.
This is due to an expanding tax base, combined with accelerating home values.
In 2014, a median home in Mesa was worth $134,000. That figure rose in each of the succeeding years and now a median home in Mesa is valued at $279,000.
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