Arizona homeowners typically pay only a small fraction of their yearly income in local taxes for their properties. In fact, according to a recent study, the state’s property taxes are among the lowest in the country.
According to a recent study by financial technology company SmartAsset, residents of 13 Arizona cities pay 2% or less of their yearly income on property taxes. Several Valley suburbs — including Tempe, Glendale, and Mesa — rank among the top 10 out of nearly 350 American cities whose residents pay the lowest property taxes.
In Tempe, residents pay only 1.3% of their yearly income in property taxes, or a median of $1,893 a year. That makes the city the fourth-cheapest in terms of property taxes. It’s only beaten out by three cities in Alabama: Montgomery, Huntsville, and Mobile…