A mistake in property tax values will leave fire departments, schools and county departments short of their projected budgets for the current fiscal year, Parker Live has learned.
The La Paz County Assessor’s Office, which is responsible for appraising and valuing taxable property countywide, reportedly made a mistake earlier this year when locking in the values of ‘business personal property.’ This led to a projected total appraised value of around $218 million, which, it turns out, was inaccurately high due to the error. The correct value is approximately $203 million, which means the resulting tax revenue for the entities will be less than projected.
Since February, fire departments, schools, Arizona Western College, sanitation districts, other districts and the County Board of Supervisors have all based their budgets on this projected revenue.
For the Board of Supervisors, the error means their $28 million budget will be short by over $360,000 for the year. For Arizona Western College, the shortfall will be a reported $400,000. Quartzsite Elementary School may be short by $94,000.
Because the error was made in the category of business personal property values, districts with higher numbers of businesses will be affected most. Business personal property includes the value of property that form a part of how entities do business, such as machinery, tools, equipment and supplies.
County Assessor Anna Camacho says she will speak to Parker Live after an Arizona Department of Revenue Property Tax Oversight Committee meeting in Phoenix on Monday evening, at which the issue will be addressed.
The issue does not affect taxpayers or how much they will pay, only departments and districts.