On the heels of the largest property tax rate reduction in county history last month, the Maricopa County Board of Supervisors received more good financial news. Both Moody’s and FitchRatings national bond rating agencies bestowed upgrades to Maricopa County’s bond ratings. In fact, FitchRatings assigned Maricopa County the highest possible “AAA” rating.
In addition to an expanding economy, Moody’s pointed out several key factors in assigning its upgrade to the county, including the county’s low debt burden and continued sound financial management.
County leadership has played a pivotal role in this rating upgrade. The Board of Supervisors and key staff have significant tenure in county operations and have won countless national awards.
Supervisor Max Wilson, District 4, says, “This rating benefits taxpayers in several fashions. The higher rating allows county bonds to be issued with lower insurance premiums, as well as at lower rates. Fundamentally, more can be done with fewer tax dollars.”
In a county growing so rapidly, this high rating allows for faster response to the increased demand for services at a lower cost to taxpayers.
Wilson says, “Our commitment to fiscal responsibility and conservative budgetary practices has resulted in a solid financial standing for Maricopa County.