Tempe anticipates losing $20 million in its annual revenue with the approval of a state bill repealing a home and apartment rental tax that is expected to cost over $180 million in statewide losses.
Gov. Katie Hobbs signed the bill on Tuesday, with it taking effect in the latter half of fiscal year 2024-25.
Reports posit that the bill will take away anywhere from $180 million to $230 million a year in revenue that a majority of the state’s 91 cities and towns collect, according to the League of Arizona Cities and Towns.
