Property taxes levied on single-family homes in the United States increased 3.6 percent to $339.8 billion in 2022, according to a new report from a real estate data firm.
That’s up from $328 billion in 2021. The 2022 increase was more than double the 1.6 percent growth in 2021, but smaller than the 5.4 percent increase in 2020, according to the report from ATTOM, a property data provider.
The Arizona Supreme Court has agreed to accept an appeal from Arizona Attorney Mark Brnovich in his lawsuit against Arizona State University and the Arizona Board of Regents (ABOR) challenging a deal they made with hotel developers letting them use school property, which allows them to avoid property taxes.
Brnovich said shortly after filing the lawsuit, “ABOR shouldn’t be subsidizing out-of-state billionaires. Worst of all, ABOR is depriving K-12 schools and community colleges millions of dollars in property tax revenue that must be made up by other taxpayers by placing the hotel on property tax exempt land.”