Theresa Mattern, a Glendale-based Realtor, listed a four bedroom single-family home for a client on a Friday in February for $95,000. Within 72 hours, she had seven offers and it sold for $109,000 cash. “At the end of the weekend it sold for $14,000 over the asking price,” Mattern says.Read More »
Six years ago, it was common for buyers to wait in front of new home sales offices to see who would win the privilege of purchasing one of the several lots the builder had selected to release for sale that day.Read More »
A coalition aiming to bolster K-12, higher education, state infrastructure and children’s health care funding filed a ballot measure today for a new 1-cent sales tax hike that would go into effect as soon as Proposition 100 expires in 2013.
The initiative, filed by the group Quality Education and Jobs, would direct about 80 percent of the money it raises to education, with the overwhelming majority going to K-12 schools. The tax would raise about $1 billion a year.
Opponents of Proposition 100, who warned that the 1-cent sales tax increase wouldn’t truly be temporary, are watching their predictions come true.Read More »
Since the Arizona Commerce Authority officially launched on July 1, it has awarded $17.2 million in incentives to companies moving to or expanding in Arizona. But detailed information is available for less than half of that money.
That’s because $9.3 million has been awarded in the form of tax credits, which are defined in Arizona statute as confidential taxpayer information.
The Senate today rebuffed a proposal to require online retailing giant Amazon.com to collect taxes on products it sells to Arizona residents. The measure, SB1338, was defeated by a vote of 8 to 20.Read More »
Arizona voters may be asked to consider whether to scrap the state minimum wage's inflation adjustment.Read More »
Since the recession battered the economy in 2008, the state has dramatically increased the number of incentives it offers to companies that bring new jobs to Arizona. But after three years of tax credits, incentives and other policies aimed at jump-starting Arizona’s economy, some economists are saying the state should stop and take a breather.Read More »
In July, Gov. Jan Brewer celebrated the announcement that Amazon.com was planning to open a new distribution center in the state, calling the move proof that Arizona is open for business.
Now, lawmakers are telling Amazon that since they have distribution centers here, they should be required to collect and pay sales tax to the state.
The mixed message is the latest chapter in a long-standing battle between online giants and brick-and-mortar retailers — and one that isn’t likely to be settled any time soon.
Outgoing Arizona Commerce Authority President and CEO Don Cardon will give back the $50,000 signing bonus he received last year.Read More »