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Sunday, November 24, 2024

Arizona's population is on the rise, thanks to low tax rates

Arizona

Low state taxes are drawing more people into Arizona from higher-taxing states. That’s according to the publication Kiplinger, which examined each county in Arizona and domestic migration from other parts of the country.

For new residents, Scottsdale has one of the lowest tax burdens, when looking at sales, income and property taxes.

The highest tax burdens could be found in Maran and Tuscon.

From 2010 to 2018 the state’s population grew by more than 12 percent. In the past year, the state had 83,000 new residents moving in. More than a third of new residents said they decided to relocate to the state because of retirement.

Still, relocating to the state can be expensive for some people, as Arizona taxes pensions

On the other hand, people are no longer moving to high-tax cities like New York, Los Angeles or Chicago. The U.S. Census shows domestic migration to those cities has been down for the past 18 years.

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