A new bill signed by Gov. Katie Hobbs to repeal residential rental tax beginning in 2025, will have big financial implications for Scottsdale — taking an estimated $14 million away from city coffers.
Hobbs signed the legislation on Tuesday, eliminating the rights of cities and towns to impose a local sales tax on home and apartment rentals beginning January 2025. It has a statewide impact of $230 million, according to Capitol Media Services.
Scottsdale officials say the city will generate an estimated $14.7 million in the current fiscal year from residential rental tax.
