Lake Havasu City residents, take note: the city has announced a proposal to maintain the current property tax rate for the upcoming fiscal year. Despite keeping the rate steady, the overall property tax levy is anticipated to increase because of rising property values, as outlined in a Truth in Taxation notice obtained from Lake Havasu City's official website.
This is how it breaks down: homeowners with property assessed at $100,000 might see an approximate up-tick of $3.04 in their annual tax contribution to the city, assuming the rate does not change. Property taxes, as they stand, allocate about 6.7 cents of every dollar to fund essential city services like the police and fire departments and parks, with the lion's share—93.3 cents on the dollar—going towards public schools, the county, local community college, and other special taxing districts.
A public hearing to discuss the proposal will be held on Tuesday, June 25, at 5:30 p.m., as noted in the aforementioned notice. Citizens interested in the detailed implications of the property tax levy and its impact on municipal services or who wish to express their views are encouraged to attend the event at the Lake Havasu City Municipal Courthouse, located at 92 Acoma Blvd., Lake Havarez City, Arizona.
Those seeking more information are directed to reach out to Jill Olsen, the Administrative Services Director for Lake Havasu City, ahead of the public hearing. Meanwhile, as per the State Statutes, Lake Havasu City is poised to increase its primary property taxes by $301,578, which is translated to a 4.7% hike from last year, as conveyed on Lake Havasu City's News and Events page. For homeowners with property valued at $100,000, this increment means an anticipated primary property tax bill of $67.18, exclusive of taxes accrued from new construction and voter-sanctioned financial obligations.
