Board of Directors of the Verrado Western Overlay Community Facilities District ("the District") to take action on Resolution No. 03-26 adopting the levying of taxes for the District for Fiscal Year b

2.I
CITY OF BUCKEYE
Joint Meeting of the Community Facilities Districts
BOARD ACTION REPORT
MEETING DATE: 06/16/26
AGENDA ITEM: 2.I. FIN - Resolution No.
03-26 Adopt Fiscal Year 2027 Tax Levy
for Verrado Western Overlay
DATE PREPARED: 06/11/26
DISTRICT NO.: Verrado Western
Overlay
STAFF LIAISON: Larry Price, Special Districts Manager, lprice@buckeyeaz.gov,
(623) 349-6164
DEPARTMENT: Financial Services
AGENDA ITEM TYPE: CFD Item
ACTION/MOTION: (This language identifies the formal motion to be made by the Council) 
Board of Directors of the Verrado Western Overlay Community Facilities District ("the District") to take
action on Resolution No. 03-26 adopting the levying of taxes for the District for Fiscal Year 2027
beginning July 1, 2026, and ending June 30, 2027, upon the assessed valuation of the property within
the District, subject to ad valorem taxation, a certain sum upon each one hundred dollars ($100.00) of
assessed valuation sufficient to raise the amounts estimated to be required in the annual budget.
RELEVANT GOALS: 
GOAL 1: Fiscal Wellness and Financial Flexibility and Accountability
ADDITIONAL RELEVANT GOALS: 
GOAL 5: Responsive and Accountable Government and Effective Public Services
SUMMARY
PROJECT DESCRIPTION:
The Board of Directors of the District is required to adopt a tax levy and rate for the taxable property
within the District to meet the operating needs and debt service of the District. At a public hearing on
June 2, 2026, property owners within the District were provided the opportunity to comment in favor of or
against the tax levy.
BENEFITS:
Under Arizona law, each community facilities district must adopt an annual budget and establish a tax
levy and rate for the taxable property within the District to meet the operating needs and debt service of
the District.
FUTURE ACTION:
County Board of Supervisors adopts tax levy and rate on or before August 17, 2026.
FINANCIAL IMPACT STATEMENT:
CFD to receive $1,137,400 in property tax revenues for FY 2027. This includes $1,034,000 for debt
service and $0.30 per $100 of the assessed value for an additional $103,400 for the administration,
operation and maintenance of the district.
BUDGETED:
Yes

FISCAL YEAR:
FY 2027
FUND/DEPARTMENT:
8002
Items related to a project or facility location must include an attached vicinity map for Council
Review.
ATTACHMENTS:
RES_03-26_-_Verrado_Western_Overlay_CFD_FY_2027_Tax_Levy.pdf