Arizona cities are in overdrive figuring out how to plug the hole from banned rental sales tax starting in 2025.
Percentage of overall city sales taxes: About 4%.City spokesperson Diane Arthur said the $5 million hit would be"significant" for Peoria as it helps the city pay for services to meet the news of the growing city. The $5 million was projected to grow over time.
The city has been seeing a 20% to 25% increase each month in the number of residential rental units, he said.The rent tax revenue went into the general fund, with 50% of that fund being allocated to public safety. While Sandstrom said it is yet to be determined how the city will make up for lost funds, Goodyear will look at constriction of growth rather than reductions. For example, implementing additional police squad units may have to be delayed, he said.
Going forward, Orsborn said the city is hopeful residents won’t see an increase in taxes in other areas. The rent tax repeal, Weise said, went against Avondale voters' wishes, since the city's constituents directly approved a rent tax in a 1980 election. The city has charged the rent tax since 1987. The city has a requirement that officials keep at least four months of their ongoing operating revenues on hand, for example. This year, that minimum reserve balance equals more than $92 million, or about eight times the amount of cash Chandler is expected to lose because of the rental tax ban.
"We continue to oppose state interference with our local revenue authority to fund city services," City spokesperson Matt Burdick told The Republic."It’s too soon to know how we plan to address the revenue loss."Amount city expected to collect in coming year: $1.2 million.In Queen Creek, revenue from rent taxes is not assigned to a specific program, town spokesperson Constance Halonen‑Wilson told The Republic.
"They understand that part of being a part of the community is to give back to the betterment of it," Rodriguez said.Percentage of overall city sales taxes: About 1.3%.In Litchfield Park, Mayor Tom Schoaf said the change in revenue won't be significant enough to notice a change that can be traced back to the rental tax ban.
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