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Lake Havasu City council adopts FY 2019–20 property tax levies and special-improvement district rates
Summary
Council adopted a series of resolutions setting the city general fund property tax rate at $6.6718 per $100 assessed value and approved rates for two improvement districts and the irrigation and drainage district; council recorded unanimous 6–0 votes on each levy adoption.
The Lake Havasu City Council adopted several resolutions on July 9 establishing property tax levies for fiscal year 2019–20, including the general fund levy, two improvement-district levies and the irrigation and drainage district levy.
Ms. Olsen, a city staff presenter, told the council the general-fund levy rate for fiscal 2019–20 "will remain the same as it was for fiscal year 2018–19," and that assessed valuation increases and new construction will raise total property-tax revenue even though the rate is unchanged. For the general fund the council adopted a levy rate of $6.6718 per $100 of assessed value.
The council also adopted the Improvement District Number 2 (London Bridge Plaza) rate at $0.737 per $100 assessed value and Improvement District Number 4 (McCulloch median / Wheeler Park area) at $0.504 per $100. The Lake Havasu Irrigation and Drainage District levy was set at $268.85 per acre.
Councilmember Jim Dolan moved to adopt the general-fund property tax resolution; Gordon Groat seconded the motion. The resolution passed by a recorded result of "motion carried 6 to 0." Similar motions and unanimous 6–0 votes approved the Improvement District No. 2 and No. 4 levies as well as the irrigation and drainage district levy.
Ms. Olsen explained that special-improvement district levies reflect self-assessments by affected property owners; she said the London Bridge Plaza district’s budget decreased and that Improvement District No. 4 saw a small increase in revenue because of higher assessed valuation while the rate per $100 remained unchanged where noted.
These adoptions complete the final step in the city’s budget process after prior work sessions, public hearings and the Truth-in-Taxation hearing. Council did not direct additional changes at the meeting; the levies were adopted as presented.
Background and next steps: The adopted rates take effect for fiscal year 2019–20 and will be used in the city’s financial administration and billing processes. The council did not make any amendments to the rates at the meeting.
