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The rental tax was cut as part of a deal made between legislative Republicans and Democratic Gov. Katie Hobbs, who signed the bill in 2023 in order to extend Prop 400, a half-cent transportation ...
County Per capita income Median household income Median family income Population Number of households 1 Maricopa: $27,816 $55,054 $65,438 3,817,117 1,411,583
Median household income and taxes State Tax Burdens 2022 % of income. State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly.
It also has slightly higher recent job growth (2.0% compared to 1.2%) and higher projected job growth (38.7% compared to 36.1%). Although the area has significantly higher sales tax rates compared with the nation as a whole (8.3% to 6.0%), income tax rates are lower than the national average (3.4% to 4.7%).
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
New Mexico taxes retirement income using state income tax rates, which range from 1.7% to 5.9% in 2024. Residents ages 65 and older can claim an $8,000 exemption to offset their tax burdens.
Map of the United States with Arizona highlighted. Arizona is a state located in the Western United States.According to the 2020 United States Census, Arizona is the 14th most populous state with 7,151,502 inhabitants (as of the 2020 census) [1] and the 6th largest by land area spanning 113,623.1 square miles (294,282 km 2). [2]
The tax is computed as the determined market value times an assessment ratio times the tax rate. [10] Assessment ratios and tax rates vary among jurisdictions, and may vary by type of property within a jurisdiction. [11] Most jurisdictions' legislative bodies determine their assessment ratios and tax rates, though some states impose constraints ...