ARIZONA DAILY STAR: Weds., Oct. 22, 2008

Though tax rate dips, we're all paying more

By Erica Meltzer

Average county bill, home values shoot up over 10-year span

Despite repeated cuts in the tax rate, many Pima County taxpayers are paying twice as much in property taxes as they did a decade ago. Since 1998, the Board of Supervisors has dropped the tax rate 11% from $5.25 per $100 assessed value to $4.67, to offset rapidly rising property values. But even when adjusted for inflation, the average county tax bill has increased 50% since then.

The Republicans on the board, who have voted against many of the budgets and tax rates over that time period, say the numbers don't surprise them a bit.

"I've been saying this for years," Supervisor Ann Day said. "The assessed value is creating a revenue stream, and that's what's been driving our budget. We should have been returning more of it to the taxpayer. We're like someone who gets a raise and spends every penny."

To look at the long-term impact of rising home values on our taxes, the Arizona Daily Star used information from the Assessor's Office to determine an average home value in 1998 and 2008. We found the average home value for tax purposes had increased 126%, from $89,444 to $202,483. Applying the tax rates in each of those years showed the average county tax bill increased 101%.

Today's average homeowner pays $476 more in taxes to the county than 10 years ago. Even when adjusted for 34% inflation over the decade, that's still a 50% increase in constant dollars.

FULL STORY: http://www.azstarnet.com/allheadlines/263596