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Sunday, December 22, 2024

Property tax revenue up 11% from previous quarter in Arizona

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Rob Woods Director of Department of Revenue at state of Arizona Dpt. of Revenue | State of Arizona Department of Revenue

Rob Woods Director of Department of Revenue at state of Arizona Dpt. of Revenue | State of Arizona Department of Revenue

Arizona collected $292 million in property taxes during the first quarter, an 11% increase over the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the fourth quarter of 2023 was $263 million.

Overall, Arizona collected $5.2 billion in combined tax revenues in the first quarter, a decrease from the $5.7 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q1 Arizona Tax Collections
Type of TaxAmount (millions)
Property Taxes$292
Sales and Gross Receipts Taxes$3,521
Income Taxes$1,164
License Taxes$157
Other Taxes$18
Source: U.S. Census Bureau

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