PHOENIX - Maricopa County supervisors have voted to keep the current property tax rate, but less money will be coming into county coffers due to declining property values.
The board of supervisors voted 4-1 on Monday.
The decision means some homeowners will see their tax levy drop by nearly $20, but the county will see a decrease in property tax revenues of more than $52 million.
Officials say property values in Arizona's most populated county have declined steeply in recent years. That has resulted in lower assessed values and lower taxes for most residents.
Board Chairman Max Wilson says the county doesn't want to put any extra burden on taxpayers.
The board's decision applies to the portion of the tax rate that is controlled by the supervisors. Cities, schools, community colleges and special tax districts make up the rest.
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