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Prescott Valley board adopts six final CFD budgets for fiscal 2026–27
Summary
The Prescott Valley board unanimously adopted final fiscal year 2026–2027 budgets for six Community Facilities Districts, including the Entertainment Center, Parkway, Pronghorn Ranch, Quillwood Meadows, Stoneridge and Southside CFDs. Officials cited modest tax-rate shifts and scheduled debt retirements.
Prescott Valley — The Town Council voted unanimously to adopt final fiscal year 2026–2027 budgets for six Community Facilities Districts (CFDs), approving resolutions for the Entertainment Center, Parkway, Pronghorn Ranch, Quillwood Meadows, Stoneridge and Southside CFDs.
Selena, a town staff presenter, summarized the package, saying the budgets “continue to support operations and debt service with no major changes,” and that the town had highlighted only the differences in the packet. She told the board that Stoneridge would see a modest tax-rate increase — "a slight increase of 22 cents or 13.1%" — because a community center lease subsidy has ended; she said property-tax rates for Pronghorn, Quailwood and Parkway decreased by 8, 12 and 19 cents respectively. She also noted that remaining debt in Southside CFD No. 1 will conclude in 2032 and debt tied to the Entertainment Center will end in 2037.
After the presentation the council opened each public hearing in turn, recorded no public comment, and moved to adopt the corresponding resolutions by electronic vote. The council authorized the chairman to sign the following resolutions: No. 2026-42 (Entertainment Center CFD final budget), No. 2026-45 (Parkway CFD No. 1 final budget), No. 2026-58 (Pronghorn Ranch CFD final budget), No. 2026-49 (Quillwood Meadows CFD final budget), No. 2026-59 (Stoneridge CFD final budget) and No. 2026-50 (Southside CFD No. 1 final budget). Each motion was seconded and all measures passed unanimously.
Why it matters: CFDs use property-tax levies within defined districts to pay for capital improvements and related debt. Small shifts in tax rates and the scheduled retirement of district debt can affect property owners inside those districts; the board said the adjustments reflect ended subsidies and routine debt-service scheduling rather than new service expansions.
Votes at a glance
- Entertainment Center CFD — Resolution No. 2026-42 — adopted unanimously. - Parkway CFD No. 1 — Resolution No. 2026-45 — adopted unanimously. - Pronghorn Ranch CFD — Resolution No. 2026-58 — adopted unanimously. - Quillwood Meadows CFD — Resolution No. 2026-49 — adopted unanimously. - Stoneridge CFD — Resolution No. 2026-59 — adopted unanimously (staff had noted a 22-cent/13.1% tax-rate increase tied to an ended lease subsidy). - Southside CFD No. 2026-50 — adopted unanimously (remaining Southside CFD No. 1 debt noted to conclude in 2032).
The council adjourned after completing the CFD actions. Staff said it would validate and return with exact debt-maturity years for the listed CFDs where dates remained tentative.
