Lake Havasu City will not increase its property tax rate | Local News

As has been the practice in recent years, the City of Lake Havasu plans to keep its main property tax rate at a fixed level in fiscal year 2022-23 while allowing the amount of money levied by that rate to increase.

During the April 21 city council business session, Administrative Services Director Jill Olsen told council that city staff were again proposing to keep Havasu’s property tax at 0.6718 per $100 of property. assessed value. Havasu has adopted exactly the same rate in each of the past five years. Based on rising property values ​​from the Mohave County Assessor’s Office, this tax is expected to collect $5,995,742 in fiscal year 2022-23, or $388,047 more than the same rate produced in the 2022-23 fiscal year. during the 2021-22 financial year.

Olsen told the board that $139,615 of the projected royalty is allocated to new construction over the past year. The remaining $248,432 of the additional tax is due to increased property values ​​of existing homes and businesses.

Meanwhile, property owners in the Irrigation and Drainage District — which encompasses most of the city limits of Havasu but not quite the city — will not be assessed $268.85 per acre of property. The IDD, which has provided money for the city’s water system since Havasu’s incorporation in 1978, is due to expire at the end of the current fiscal year when the district’s debt is fully repaid.

In addition to Havasu’s main property tax rate, the city also assesses property taxes in two special tax districts to property owners in each district. The McCulloch Median neighborhood, which maintains the landscaping and lighting of the median of McCulloch Boulevard from Lake Havasu Avenues to Smoketree Avenues, has experienced a steady rate of 0.5040 per $100 of assessed value over the last years. The London Bridge Plaza area, which maintains and operates the shared car park as well as the lighting and landscaping of the plaza, has been valued at 0.7370 per $100 of value over the past few years.

The city council will formally adopt property tax rates for next year over the summer, as part of the city’s annual budget process.

Penny D. Jackson