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News Flash • Strong Economic Standing, Fiscal Responsibility

PHOENIX, Ariz. (March 6, 2024) – A new report shows Maricopa County has a strong economy, lower unemployment than the state average, and a more efficient use of government funds than similarly sized counties. I am.

“Maricopa County continues to lead the nation in growth and fiscal responsibility,” said Jack Sellers, chairman of the Maricopa County District 1 Board of Supervisors. I am proud to govern with integrity.”

As of June 2023, Maricopa County's unemployment rate was 3.9%, compared to the state average of 4.4%, indicating a steady recovery from a peak unemployment rate of about 10% in 2020. The county is home to a variety of employers, particularly in the high-tech, financial, and service industries. The county's top three employers are Banner Health (43,440 employees), State of Arizona (41,564 employees), and Walmart, Inc. (36,931 employees). Overall, Arizona is well positioned to outperform the nation and most states in terms of employment, income, and population growth.

“This report proves that Maricopa County is successful in an efficient and conservative fiscal plan that maximizes the use of hard-earned tax dollars,” said Thomas Galvin, District 2. the Vice-Chairman said. job seeker. It's no wonder we remain the fastest growing county in the nation. ”

The 2023 Popular Annual Financial Report also found that the county's fiscal year 2023 expenditures totaled just $769 per resident, compared to an average per capita of $1,626 for similarly sized counties. . This means Maricopa County government is using taxpayer dollars more efficiently, spending less than half of what other counties of the same size spend when adjusting for population. Approximately $331 per person was spent on public safety initiatives, followed by $184 per person on health, human services, and sanitation activities, and $87 per person on capital projects.

Additionally, fiscal year 2024 will be the second year in a row that the county will make a significant contribution toward unfunded pension debt. This year, the board is directing $190 million to the Sheriff and Correctional Officers Retirement Program (CORP) detention program of the Public Safety Personnel Retirement System (PSPRS), which provides an earned pension to retired civil servants in the law enforcement sector. . Paying off this debt now means that less of your future budget will be needed to fund your pension.

Maricopa County's government fund receipts totaled approximately $3.1 billion in fiscal year 2023. Property taxes are Maricopa County's primary source of revenue, but the county received only 13% of all allocated property taxes. Most of the property taxes (68%) went to schools and community colleges. While real estate valuations have increased in recent years, the Supervisory Board has reduced the property tax rate from 1.64% in 2019 to 1.46% in 2023. Overall, tax revenues have steadily increased year on year, contributing to the steady growth of real estate. Maricopa County Economy.

The report's findings were compared to 10 geographically large U.S. counties that include at least one metropolitan center. Cook County, Illinois. Harris County, Texas. San Diego County, California. Orange County, California. Riverside County, California. Clark County, Nevada. King County, Washington. Santa Clara County, California. and Salt Lake County, Utah.

To view the full report, visit https://www.maricopa.gov/6035/popular-Annual-Financial-Reports.

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