Arizona Fiscal Statistics

StatisNostics/State Financials/Arizona

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20122023

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State Revenue Analysis (Arizona: 2012–2023)

Population: 6,556,236 → 7,276,316 (11.0% change)

Overall Revenue Trends

Total Revenue▲ 108.9%

$29,337,446,000 (2012)→$61,290,729,000 (2023)

Per Capita Revenue▲ 88.2%

$4,475 (2012)→$8,423 (2023)

Fund Balances▼ 100%

$12,875,679,000 (2012)→$0 (2023)

Revenue Volatility✓ Low

Avg. fluctuation: 7.8%

Major Tax Revenue

Property Tax▲ 73%

$754,428,000 (2012)→$1,304,903,000 (2023)

Sales Tax▲ 101.4%

$6,210,756,000 (2012)→$12,509,337,000 (2023)

Utility Revenue

Solid Waste Charges▲ 30.1%

$3,021,000 (2012)→$3,931,000 (2023)

Growth Analysis

Fastest Growing Revenue Sources

Amusement Tax▲ 1464.7%

$521,000→$8,152,000

Parks & Recreation Charges▲ 499.6%

$21,496,000→$128,889,000

Federal Intergovernmental Sewerage▲ 497.6%

$2,251,000→$13,452,000

Declining/Slowest Growing Sources

Hospital Charges▼ 100.0%

$1,162,778,000→$65,000

Local Intergovernmental Health & Hospitals▼ 97.6%

$62,624,000→$1,504,000

Education Other State Charges Not Elsewhere Classified▼ 86.8%

$27,427,000→$3,607,000

Revenue Forecast

Projected Revenue (Next Year)▲ 8.4%

Estimated: $66,449,158,724

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

Federal Intergovernmental Public Welfare22.9%

Total General Sales Taxes21.2%

Individual Income Tax10.5%

Federal Intergovernmental Education5.8%

Higher Education Tuition Charges4.6%

Hospital Charges4.0%

Federal Intergovernmental Highways3.1%

Motor Fuels Sales Tax3.1%

Property Tax2.6%

Corporation Net Income Tax2.2%

Federal Intergovernmental Other1.5%

Unemployment - Contribution1.5%

Insurance Premium Tax1.5%

Donations From Private Sources1.3%

Interest Earnings1.2%

Higher Education Auxiliary Charges1.1%

Federal Intergovernmental Health & Hospitals1.1%

Tobacco Sales Tax1.1%

All Other Not Elsewhere Classified Charges0.9%

Miscellaneous General Revenue Not Elsewhere Classified0.8%

Net Lottery Revenue0.7%

Workers Compensation - Interest Earnings0.6%

Workers Compensation - Other Contributions0.6%

Fines & Forfeits0.6%

Motor Vehicle License0.6%

Sale of Property0.6%

Local Intergovernmental Public Welfare0.5%

Occupation & Business License Not Elsewhere Classified0.4%

Other Selective Sales Taxes0.4%

Federal Intergovernmental Housing & Community Development0.3%

Federal Intergovernmental Employment Security Administration0.3%

Local Intergovernmental Other0.3%

Federal Intergovernmental Other Natural Resources0.3%

Alcoholic Beverage Sales Tax0.2%

Rents0.2%

Local Intergovernmental Health & Hospitals0.2%

Local Intergovernmental Education0.2%

Severance Tax0.1%

Motor Vehicle Operators License0.1%

Electric Utilities Revenue0.1%

Hunting & Fishing License0.1%

Education Other State Charges Not Elsewhere Classified0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Parks & Recreation Charges0.1%

Public Utilities Tax0.1%

Federal Intergovernmental Water Utilities0.1%

Public Utility License Tax0.1%

Corporation License Tax0.0%

Regular Highway Charges0.0%

Local Intergovernmental Highways0.0%

Alcoholic Beverage License Tax0.0%

Other License Tax0.0%

Housing & Community Development Charges0.0%

Solid Waste Charges0.0%

Federal Intergovernmental Sewerage0.0%

Air Transportation Charges0.0%

Federal Intergovernmental Air Transportation0.0%

Amusement Tax0.0%

Parimutuels Tax0.0%

Death & Gift Tax0.0%

Local Intergovernmental General Support0.0%

2023 Revenue Breakdown

Federal Intergovernmental Public Welfare39.0%

Total General Sales Taxes20.4%

Individual Income Tax7.8%

Federal Intergovernmental Education5.5%

Higher Education Tuition Charges4.7%

Corporation Net Income Tax2.5%

Property Tax2.1%

Interest Earnings2.0%

Federal Intergovernmental Highways1.5%

Motor Fuels Sales Tax1.4%

Insurance Premium Tax1.3%

Donations From Private Sources1.2%

Federal Intergovernmental Health & Hospitals1.1%

Miscellaneous General Revenue Not Elsewhere Classified1.0%

Higher Education Auxiliary Charges0.9%

Federal Intergovernmental Other0.8%

Unemployment - Contribution0.7%

Sale of Property0.6%

Net Lottery Revenue0.6%

Motor Vehicle License0.6%

All Other Not Elsewhere Classified Charges0.5%

Other Selective Sales Taxes0.4%

Tobacco Sales Tax0.4%

Occupation & Business License Not Elsewhere Classified0.3%

Taxes Not Elsewhere Classified0.3%

Local Intergovernmental Public Welfare0.2%

Federal Intergovernmental Other Natural Resources0.2%

Parks & Recreation Charges0.2%

Federal Intergovernmental Employment Security Administration0.2%

Fines & Forfeits0.2%

Federal Intergovernmental Housing & Community Development0.2%

Alcoholic Beverage Sales Tax0.1%

Rents0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Corporation License Tax0.1%

Local Intergovernmental Other0.1%

Hunting & Fishing License0.1%

Motor Vehicle Operators License0.1%

Unemployment - Interest Revenue0.0%

Alcoholic Beverage License Tax0.0%

Public Utilities Tax0.0%

Electric Utilities Revenue0.0%

Severance Tax0.0%

Local Intergovernmental Education0.0%

Regular Highway Charges0.0%

Federal Intergovernmental Sewerage0.0%

Housing & Community Development Charges0.0%

Local Intergovernmental Highways0.0%

Amusement Tax0.0%

Solid Waste Charges0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Other License Tax0.0%

Local Intergovernmental Health & Hospitals0.0%

Federal Intergovernmental Air Transportation0.0%

Air Transportation Charges0.0%

Local Intergovernmental General Support0.0%

Hospital Charges0.0%

Amusement License Tax0.0%

Key Insights

1Total revenue increased by 108.9% from 2012 to 2023, representing a significant change in the state's financial position.
2Population changed by 11.0%, while per-capita revenue changed by 88.2%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Arizona: 2012 - 2023)

Total Expenditure Trends

Operating Expenditures▲ 311%

$9,841,780,000→$40,430,740,000

Per Capita Spending▲ 270%

$1,501→$5,556

Population Trends

Population Change▲ 11%

6,556,236 (2012)→7,276,316 (2023)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 101%

$208,274,000 (2012)→$419,001,000 (2023)

Fire Protection▼ 0%

$0 (2012)→$0 (2023)

Infrastructure Expenses

Highways Maintenance▲ 72%

$380,229,000 (2012)→$654,561,000 (2023)

Sewerage Operations▼ 0%

$0 (2012)→$237,000 (2023)

Administrative Expenses

Financial Administration▲ 44%

$304,616,000 (2012)→$437,692,000 (2023)

General Expenses▲ 54%

$265,098,000 (2012)→$407,224,000 (2023)

Arizona Key Insights

1Police protection spending increased by 101%, significantly outpacing population growth of 11.0%
2Per capita expenditures grew by 270%, indicating substantial service expansion or cost increases not explained by population growth alone
3Police Protection was the fastest growing major expense category at 101% increase

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State Debt Analysis (2012-2023)

Debt Trends

Total Long-Term Debt▼ 41%

$10,974,362,000 (2012)→$6,497,689,000 (2023)

Industrial Revenue Debt▼ 100%

$3,486,393,000 (2012)→$0 (2023)

Per Capita Debt▼ 47%

$1,674 (2012)→$893 (2023)

Population Trends

Population Change▲ 11%

6,556,236 (2012)→7,276,316 (2023)

Debt Management

Most Recent Year (2023)

Issued:$209,198,000

Retired:$371,676,000

Net Change:$-162,478,000

Debt Retirement Trend

$1,590,810,000 → $371,676,000▼ 77%

🔄 Significant change in retirement strategy detected

Key Insights

1There appears to be a significant shift in debt management strategy between 2012-2023, with a move toward lower debt levels.