Arizona Alcohol TaxĪrizona collects excise taxes on alcoholic beverages, depending on the type of product being sold. Arizona Estate TaxĪs of January 2005, there is no estate tax in Arizona. In fact, the tax costs $2.00 per pack of 20 cigarettes, or 10 cents per stick.
On a nationwide scale, Arizona taxes cigarettes at a high rate. If you’re looking to refinance or relocate to Arizona, take a look at our guide to Arizona mortgage rates and getting a mortgage in the state. average of 0.99%.Īrizona’s sales tax may be on the higher side, but its property taxes are among the lowest in the nation. That rate varies somewhat between cities and counties, but no county in Arizona has an effective property tax rate higher than 1.65%, which is 0.66% higher the U.S. The average effective property tax rate (total taxes paid as a percentage of home value) is 0.51%. The typical homeowner pays $1,707 per year in property taxes in Arizona.
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Among the items exempt from sales tax in Arizona are groceries, internet subscriptions, prescription drugs and professional or personal services. While most products purchased in the state will be subject to those rates, some items are exempt. The table below shows the combined state and county taxes for every county and the combined state, county and city sales tax rates for several cities in Arizona. When taking all local taxes into account, the state’s average rate is 8.40%, eighth-highest in the nation. You’ll have to pay state and local sales taxes on purchases made in Arizona. Each of these match the federal standard deduction.
If you choose not to itemize on your Arizona tax return, you can claim the Arizona standard deduction, which is $12,950 for single filers and $25,900 for joint filers. Itemized deductions in Arizona track very closely to federal itemized deductions. For example, interest income from non-Arizona municipal bonds is taxable, and must be added to taxable income.įor the most part, however, calculating taxable income is a matter of subtracting deductions and exemptions from gross income. From here, there are a number of subtractions and additions made to calculate taxable income. The starting point for computing Arizona taxable income is federal adjusted gross income (AGI). Those rates apply to Arizona taxable income. Joint filers and heads of household will pay 2.55% for income under $57,305 and 2.98% for additional income above that. Single taxpayers and those married filing separately are taxed at 2.55% for income under $28,653 and 2.98% for all other income above that. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
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In all, the effect of Arizona’s tax system varies depending on your specific financial circumstances.Ī financial advisor can help you understand how taxes fit into your overall financial goals. On the other hand, when considering both statewide and local taxes, the Grand Canyon State has the 10th-highest sales tax rate in the country. states, Arizona has below-average income and property tax rates, and it has the fifth-lowest gas tax rate in the nation.
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