By Victoria Harker | Chamber Business News
A new report from a leading Arizona economist finds that the state’s economic development prospects would brighten if policymakers made the commercial property tax more competitive.
An analysis of tax rates in key markets in the Southwest and the West found that Arizona has some of the highest for office and industrial space, putting it at a disadvantage in the region.
“In Arizona, the commercial property tax remains relatively high despite recent efforts to reduce the business tax burden,” said Jim Rounds, an economist specializing in public policy and economic forecasting, who prepared the report for the Arizona Chapter of the National Association of Industrial and Office Properties (NAIOP). “State tax policy must be designed so businesses can remain competitive.”
