The Associated Press
Tuesday, December 16, 2008
PHOENIX (AP) - The average property tax rate in Arizona dropped this year.
A business-backed advocacy group, the Arizona Tax Research Association, reports that the statewide average fell from $10.04 per $100 of assessed valuation in 2007 to $9.23 in 2008.
The association says one factor behind the decrease is a state requirement to lower tax rates to offset valuation increases.
Another factor is voters' approval in 2006 of a ballot measure that limits growth of local governments' levies.
The association says most the biggest reduction of tax rates was recorded by public school districts.
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