County government will see a revenue decrease of $52.5 million.
PHOENIX (AP) - The Maricopa County Board of Supervisors has decided that most property owners will pay less in taxes to the county next year.
The Arizona Republic reports that the decision on Monday by county officials means that county government will see a revenue decrease of $52.5 million.
The board made budget cuts in anticipation of the shortfall in property-tax revenue.
Assessed property valuations for fiscal year 2013 have decreased again and are projected to continue decreasing until about fiscal 2015.
The owner of a median-valued home of $111,000 should pay about $20 less to Maricopa County in fiscal 2013.
The county-controlled portion of a property owner's tax bill is relatively small, at 12 percent. School districts control the largest chunk, at 54 percent.
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