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How Will The Override Impact Your Taxes?

At the May 30, 2019, Board Meeting the Governing Board voted to adopt a resolution ordering all matters necessary for a 15 percent maintenance and operations (M&O) budget override election to be held on Tuesday, Nov. 5, 2019.

 

If approved by voters, the M&O override would allow the district to fund new student and staff safety initiatives and continue to support the following programs:

 

All-Day Kindergarten for our Youngest Learners  
Arts Educations Programs Including Band and Chorus
Assistant Principals for Every School
Attraction and Retention of the Best Teachers and Staff Possible 
Athletic Programs
Extra/Co-curricular Activities 
Gifted Education
Maintain Class Sizes
Nurses/Health Services at Every School 
Physical Education Programs 
Reading Programs

 

If approved, how will my property taxes be affected?

 

The override is paid from a levy of ad valorem taxes (which is different from the value listed on Zillow or Redfin – explained below) on all taxable property within the Peoria Unified School District. If approved, the Override will result in an estimated average annual tax rate of $1.74 per $100 of assessed valuation for residential property owners or about $2-$6 per month increase.

 

Is the value of my home what it says on sites like Zillow or Redfin?

 

To calculate their property taxes, a community member needs the limited property value of their property. This is not the current fair market value of a home that can be found on Zillow or Redfin but rather the Limited Property Value as calculated by the Maricopa County Assessor. This amount can be located on the Property Notice of Valuation that is mailed each year from the Maricopa County Assessor or online by visiting the Maricopa County Assessor website.

 

This example of a Property Notice of Valuation is for a home that has an approximate fair market value of $400,000 if it were to be listed for sale on the open market.

 

 

Example tax calculation based on Example valuation:

 

Limited Property Value: $262,110 X .10 = $26,211

Then divide $26,211 BY 100 = $262.11 X $1.74 = $456.07

 

Is there an accurate way to estimate the impact on my taxes?

 

Yes. We've created an online property tax calculator that you can use to see the impact on your tax bill. Try the property tax calculator. There's also a property tax calculator in Spanish.

 

 

Where can I find more information about the override election?

 

We have more information about the override, how to register to vote, and information about how your tax dollars support education on our Bonds and Overrides page.