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Yuma County weighs sharing interest costs from ADOR valuation-driven tax refunds; board requests impact chart
Summary
Yuma County Chief Financial Officer Humberto del Castillo presented board members with two options for allocating interest on property-tax refunds tied to Arizona Department of Revenue valuation adjustments and asked the board for direction.
Humberto del Castillo, Yuma County chief financial officer, told the Board of Supervisors on Nov. 3 that the county has absorbed interest on property-tax refunds tied to valuation reductions ordered by the Arizona Department of Revenue (ADOR) and asked the board whether those interest costs should instead be shared proportionally across affected taxing jurisdictions.
Del Castillo said recent ADOR valuation reductions affecting large centrally assessed properties (noted examples included Agua Caliente Solar, with adjustments dating back to 2016, and San Diego Gas & Electric adjustments back to 2020)…
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