Own a home in TUSD? Your property tax rate is going down

Tucson Unified School District’s property tax rate will drop in fiscal year 2024 because property valuations have risen.

In other words, if you own a home in TUSD, your tax rate per $100,000 of assessed valuation will decrease, but your assessed value very well may have gone up.

Property owners within TUSD will pay $20.74 less to the district for every $100,000 of their property’s assessed value than they did in fiscal year 2023.

The owner of a home valued at $100,000 will pay a total of $397.53 in TUSD property taxes, down from $418.27 the year before.

Because overall property valuations in Pima County have gone up, TUSD’s tax rate can drop and still cover the district’s budget, TUSD chief financial officer Ricky Hernandez explained at a governing board meeting Tuesday night.

It will be the second year in a row that TUSD has slightly lowered its tax rate.

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TUSD’s total budget for fiscal year 2024 will be $846.8 million (up from $808 million this year), including $394.9 million for maintenance and operations.

The district, Pima County’s largest, serves more than 40,000 students at 87 schools.

TUSD will ask its voters on Nov. 7 to approve a $480 million bond package to update and renovate schools, add security systems, provide access for every student to computers/iPads, and buy buses.

If voters approve, the bond package’s tax rate will be 69 cents per $100 of assessed valuation, meaning it would cost the average homeowner in TUSD, with a home value of $183,000, about $126 a year.