I want to commend my counterparts on the Coconino County Board of Supervisors for voting to not raise the county property tax rate for 2013 and holding the rate at 2012 levels. On June 19th, the same night the Flagstaff City Council voted to not raise the Cities property tax rate (see earlier blog post), the Coconino County Board voted to leave their 2013 tax rate unchanged thus resulting in a combined savings to the tax payers of around $750,000. This is great news for the residents of the County and City and I was excited to read about the County’s tax saving vote today.
The County’s vote to not increase the tax rate means the County will take in about $500,000 less than last year. Similarly, at the City level we voted to keep the rate unchanged resulting in about a $270,000 savings to the City’s tax payers. The City Council did this while maintaining a balanced budget, a reserve fund of over $8,000,000 and a bond rating that will not be negatively affected.
The combined savings to the tax payers is great news for our local economy. That’s $750,000 that your family and your neighbors now have in their pockets to spend in our local economy. Keeping as much disposable income in the hands of the tax payers is a great way to stimulate the economy. By itself, one tax decrease may not be a lot but taken as a whole, the cumulative effect can be massive and ultimatley can add up to millions of dollars being left in the private sector, stimulating our local economy.
I appreciate all of the words of encouragment and support myself and the Council has received as a result of this tax savings for the residents of Flagstaff. This is a great start for the new Flagstaff City Council and a welcomed change by the County Board. The tax relief is long overdue and much needed for the residents and businesses of the Flagtaff area. This is truly a win, win for everyone.