While town staff has been busy with the town budget for several months already, the Fountain Hills Town Council met Feb. 27 for its annual day-long planning session for the 2024/2025 Fiscal Year that begins on July 1.
Finance Director Paul Soldinger, who is working alongside retiring Finance Director David Pock, told the council there are several things that he is projecting will impact town revenues in the next fiscal year, mostly in a negative way. Several of these are related to actions taken by the Arizona State Legislature.
The town receives a share of income tax from the state known as Urban Revenue Sharing. The state instituted a flat income tax of 2.5% for individuals in January 2023. Working with a two-year lag on for dispersing the revenue it will show beginning in 2025.
