Action 7.
Regular Board of Supervisors Meeting
Board of Supervisors
- Meeting Date:
- 09/29/2020
- Title:
- Revised Qualifying Tax Rate (School) for FY20-21
- Submitted By:
- Daniel Duchon, Finance
- Department:
- Finance
Presentation:
No A/V Presentation
Recommendation:
Approve
Document Signatures:
BOS Signature Required
# of ORIGINALS
Submitted for Signature:
Submitted for Signature:
0
NAME
of PRESENTER:
of PRESENTER:
Daniel Duchon
TITLE
of PRESENTER:
of PRESENTER:
Budget Manager
Docket Number (If applicable):
Mandated Function?:
Federal or State Mandate
Source of Mandate
or Basis for Support?:
or Basis for Support?:
ARS 41-1276
Information
Agenda Item Text:
Approve the revised Qualifying Tax Rate (QTR) County Education District, for Fiscal Year 2020-21.
Background:
As part of the annual process to adopt property tax rates, the County includes the Qualifying Tax Rate (QTR) (aka County education district (unorganized)) - which is actually set by the Joint Legislative Budget Committee (JLBC). The JLBC calculates this rate pursuant to ARS 41-1276. Due to an error, it was recommended by the Arizona Department of Revenue that the Board go through the motions and vote on this revised rate. The attached exhibits are the same exhibits the Board adopted in August, with the changes highlighted. The only change is the QTR revision.
The tax rate revision is a tax decrease from 1.8954 to 1.8371.
The tax rate revision is a tax decrease from 1.8954 to 1.8371.
Department's Next Steps (if approved):
Budget/Finance will post all tax rates on County Website. Treasurer's Office will continue to print and mail property tax bills.
Impact of NOT Approving/Alternatives:
The goal of approving this, and voting on a rate we technically do not control - simply creates continuity and openness about the tax rate adoption process. We will have a record of the rate revision.
To BOS Staff: Document Disposition/Follow-Up:
Advise budget manager if Board approves.