A Truth in Taxation Hearing Notice is published by Lake Havasu City to inform property owners of the city’s proposed property tax levy for the upcoming fiscal year. Lake Havasu City is proposing no change to the city property tax rate.
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. Although the city is proposing to keep the property tax rate the same, there is an anticipated increase in total property taxes collected by the city, based on increased property values.
Most property owners will experience little change in the city portion of their property tax bill, if the city’s property tax rate remains the same. For example, property owners with a property assessed at $100,000 can expect to pay an additional $3.14 over the next year (26 cents a month), if the property tax rate remains unchanged.
On average, 7.8 cents of every dollar in all of the general property taxes paid by Lake Havasu City property owners goes to the city. Property taxes collected by the city helps fund city services like police, fire, parks and streets. The remaining 92.2 cents of every dollar of all the general property taxes paid by property owners, which is not controlled by the city, goes to the public schools, county, community college and various special taxing districts.
Interested citizens are invited to attend the public hearing on Tuesday, June 25, at 6:00 p.m., at the Lake Havasu City Police Facility, 2360 McCulloch Blvd. N., Lake Havasu City.
Please contact Jill Olsen, Lake Havasu City Administrative Services Director, at olsenjr@lhcaz.gov or visit the City’s website at www.lhcaz.gov, for more information.
