Property values, not tax rate, drive greater tax collection

Homes on Relation Street in Safford. - Contributed Photo/Google Maps

SAFFORD — The City of Safford announced it was not increasing its property tax rate for the 2022-23 fiscal year.

However, due to increasing property values, the city looks to collect $3,753 more in the coming year.

The city’s truth in taxation notice shows the primary property tax rate remaining at $0.5135 per $100 of assessed value.

Properties in the city currently have a net assessed value of $56.6 million, with $1.4 million of that coming from new construction.

The result is that the city will capture $290,418 from its primary property tax in the coming fiscal year.

The public will have an opportunity to comment on the proposed property tax levy, June 27 during the regular City Council meeting.