The Chandler City Council has started financial planning for fiscal year 2025-2026, focusing on the operating budget and capital improvements. A recent update from Chandler City's website notes that the kickoff began with a work session discussing various economic factors that may impact the upcoming budget, including an $11 million reduction from eliminated residential rental taxes.
The council's effort to clarify the budget involves input from residents through the Resident Budget Survey, available in both digital and print formats starting in November. This survey connects taxpayers with decision-makers, allowing them to express where they want their contributions allocated. Chandler is proud of its strong financial policies, having maintained primary property tax cuts for nine consecutive years while still supporting growth in its Capital Improvement Program (CIP). This program addresses not only routine maintenance but also updates aging infrastructure and adds new parks and streets.
Balancing high-quality city services and infrastructure with low sales tax rates and utility costs is a challenge, but Chandler manages it well. The city maintains a structurally sound budget, with ongoing costs and revenues working in harmony, while one-time revenues align with one-time expenses. Notably, Chandler is the largest city in Arizona to eliminate its unfunded liability in the Public Safety Personnel Retirement System.
Chandler's financial health is reflected in its impressive AAA bond rating from all three rating agencies. In December 2023, the city became the first in Arizona to achieve AAA/Aaa ratings for both its general obligation and excise tax revenue bonds. This distinction helps minimize costs for taxpayers and keeps utility rates stable for residents.
