State Income Taxes – Tax rate is 10% to 32% of your Federal Income Tax; For more info, click here.
Income Exemptions – Social Security benefits and up to $2,500 on federal, Arizona state and local government pensions are exempt.
Property Tax – Real property is accessed at the range of 1% – 1.5% of market value of owner occupied property. This includes State, County, Community Colleges, City and Schools. Property Tax Calculator – Here is a link to an online tax calculator you can use to estimate your property tax in Prescott…
Corporate Income Tax – Flat tax of 6.968%. The minimum amount collected by Arizona Corporate Income Tax is $50.00
Sales Tax – Arizona has a general sales tax of 5.6%. Yavapai County has a .75% sales tax, and the City of Prescott has a 2% sales tax, for a total sales tax of 8.35%
Homestead Exemption – Those who are disabled or whose spouse died while residing in Arizona can receive an exemption of $3,000 off assessed value. TO qualify, the full cash value of one’s home must be less that $203,860.