Arizona Gov. Katie Hobbs has signed a bill that eliminates the tax on apartment and home rentals and Florence officials are keeping an eye on its possible effects on the town.
According to the League of Arizona Cities and Towns, the legislation will take away more than $230 million a year in revenue that 91 cities and towns collect.
Jeff Graves, communications and intergovernmental relations manager for Florence, said although “rental tax revenues are not a major source of funding within the town’s general fund” the town must remain vigilant about the effects of any cuts in revenue.
