A preliminary $2.3 billion budget for fiscal 2013 approved by Maricopa County, Ariz., supervisors last week reflects a revenue drop due to lower property tax valuations.

Budget director Sandi Wilson said general fund spending will go down $25.8 million from 2012 as a result of a $52.5 million decline in property tax revenue.

Total spending will decline by almost $38 million, she said.

The median home value in Maricopa County fell to $111,000 in 2012 from $124,500 in 2011. The county's tax rate will remain at $1.24 per $100 of net assessed valuation.

The final vote on the fiscal 2013 budget is set for June 18. The new year will begin July 1.

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