News updates are sent daily. You can unsubscribe at any time.
Secondary property tax to be assessed
Digg|
Save|
License|
Print|
E-mail|
Beginning this October, tax bills for Mesa property owners will include a secondary property tax.
The tax will be added as part of November's voter-approved bond election to pay for specific public safety and streets projects.
Mesa is currently shopping its annual bond sales, which help pay for capital projects. The city plans to sell $61.8 million in general obligation bonds this year, a portion of which would go toward paying for a new city court building. About $42.5 million in debt will be taken on related to the bond election.
Mesa has not had a secondary property tax for five decades.
Bonds have been repaid from the general fund.
The annual tax bill on a house valued at $174,000 is estimated to be $51.91, City Deputy Manager Bryan Raines told the City Council Thursday. That includes an estimated $1.3 million in operating costs in 2009-10 for the new projects, mainly Fire Station 219. Property taxes are collected in October and March.
Please add your comments, but follow these guidelines to keep this a safe, credible place for discussing the news: