Taxes & Financing
State Taxes
- No Property Tax on Business Inventories
- No Corporate Franchise Tax
- No Sales Tax on Manufactured Goods
- No Tax on Raw Materials, Finished Products or Parts
- Arizona Sales Tax is 5.6% (Effective June 1, 2001)
- Corporate Income Tax is 6.968%, minimum $50
- No Transaction Privilege and Use Tax on income producing capital equipment. Lookup Section 4-1-110 in the City of Prescott Sales Tax Code.
Local Taxes
- Property Tax for Commercial and Industrial Property is based on an assessment of 25% of the full cash value
- City of Prescott Sales Tax is 2%
- Yavapai County Sales Tax is 0.7%
- Prescott has the lowest property tax rate in the tri-city area.
Sales and Use Tax Rates
| Percent Breakdown for Prescott | |
|---|---|
| State | 5.60 |
| Local | 2.0 |
| County | 0.75 |
| Bed | 3.0 |
Comparison of Property Tax Rates (2009)
| Prescott | Prescott Valley | Chino Valley | Dewey-Humboldt | |
|---|---|---|---|---|
| Elementary/High Schools | 2.98 | 3.88 | 3.67 | 3.88 |
| City/Fire District | 0.42 | 1.64 | 2.13 | 1.64 |
| Countywide | 3.05 | 3.05 | 3.05 | 3.05 |
| Total | 6.45 | 8.57 | 8.85 | 8.57 |
Payroll Taxes
- Unemployment Insurance is jointly financed through Federal and State employer payroll taxes.
- Average employer contribution rates for unemployment insurance available on link below.
- Follow the U.S. Department of Labor & Arizona Employment Security website links below for more information.
- Average workers compensation cost is available on the link below.
- The Arizona State Compensation Fund provides information for employers on the link below.
Tax Links
Financing
- SBA 504 Loans
- Grant Opportunities through State Economic Strength Project Funds
- Used for street infrastructure only
- Conventional Loans
- Farmers Home Administration
- National Banking Facilities Available Locally
- Bank of America
- National Bank
- Wells Fargo Bank