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Thursday, November 21, 2024

Arizona's Q4 2023 property tax revenue down 52.6% from previous quarter

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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 $263 million in property taxes during the fourth quarter of 2023, a 52.6% decrease from the third quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the third quarter of 2023 was $555 million.

Overall, Arizona collected $5.7 billion in combined tax revenues in the fourth quarter of 2023, a decrease from the $6.2 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.

Q4 2023 Arizona Tax Collections
Type of TaxAmount (millions)
Property Taxes$263
Sales and Gross Receipts Taxes$3,327
Income Taxes$1,583
License Taxes$315
Other Taxes$184
Source: U.S. Census Bureau

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