Lake Havasu City Residents May Pay More in Property Taxes Due to Rising Valuations, Despite Steady Tax Rate

Lake Havasu City residents could be looking to see a marginal uptick in their property taxes, despite the city's proposed maintenance of last year's property tax rate. According to a statement published on the city's website, the increase stems from a rise in property values rather than a direct rate hike. "The amount of property tax paid by Lake Havasu City property owners to the City is determined by two factors: the property tax rate, as determined by the City, and the assessed value, as determined by the County," reads the notice. This means that homeowners with properties assessed at $100,000 might be expected to shell out an extra $2.98 for the year if their value assessments have increased.

Delving into the specifics of where taxes are allocated, the notice explains, "About 6.7 cents of every dollar in general property taxes paid by Lake Havasu City property owners goes to the City." The funds collected are vital for supporting city services, including police, fire, and parks. The bulk of the property tax, 93.3 percent, is distributed among public schools, county, community college, and various special taxing districts, which the City does not directly control.

The publication on Lake Havasu City's official website also includes a "Truth in Taxation Hearing Notice of Tax Increase," which specifies that Lake Havasu City is contemplating an increase in primary taxes by $313,856 or 4.6%. "For example, the proposed tax increase will cause Lake Havasu City’s primary property taxes on a $100,000 home to be $67.18," the notice cites, comparing it to the $64.20 amount that would be owed without the increase.

Citizens with views on the proposition can voice them at a public hearing scheduled for June 24, 2025, at the Lake Havasu City Municipal Courthouse. Jill Olsen, Lake Havasu City Administrative Services Director, is the point of contact for those seeking further particulars. The decision to keep rates stable but to address increased valuations suggests an approach to simultaneously maintain city services while acknowledging the adjustments in the real estate market. The officials have thus aimed to balance taxation with fairness and sustainability for the city's financial future.