BULLHEAD CITY, ARIZ– Don’t look now, but there are real signs that the economy is bouncing back for this city along Arizona’s west coast. Although the tourist industry of the Bullhead City/Laughlin area remains flat, new home construction is quietly rebounding. Although housing construction is nothing like what it was during the boom years of the mid-2000s, things are looking up. During the 2013-14 fiscal year, which ended in June, the City of Bullhead City reported 58 new homes were built and occupied. That is almost four times as many new homes that were built in 2010, and the trend is not changing. Since the start of the 2014-15 fiscal year (Jul. 1), construction on 45 new homes was started with 24 of them already completed. Nine others are awaiting final inspection and certificates of occupancy, while 12 others are in various stages of completion. City officials are confident the city will surpass last year’s numbers. “Housing construction is a big part of our local economy, along with tourism and retail trades,” said city manager Toby Cotter at Tuesday’s Bullhead City Council meeting. “Housing construction is the backbone of our economy and has been for many years.” The new construction may not mean much in terms of tax revenue for the city, but for the Bullhead City Elementary and Colorado River Union High School Districts, as well as Mohave Community College and the Bullhead City Fire Department, it will mean added revenues. The new homes completed in the last fiscal year have an estimated property valuation of more than $14.3 million dollars. The 24 homes already completed this year add another $6.0 million in valuation with the remaining homes expected to add at least that much in the very near future. The city does not collect any property tax so the added valuation is of no direct benefit to the city, but other taxing jurisdictions will be happy about the new housing construction.
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