Starting January 1, 2025, Arizona has eliminated the Transaction Privilege Tax (TPT) on long-term residential rentals (30+ days). This significant change impacts landlords, property investors, and tenants, removing the obligation for property owners to collect and remit city rental taxes on qualifying properties.
If you’re a rental property owner in Arizona, this update simplifies tax compliance but also raises questions about lease adjustments, tenant communications, and ensuring a smooth transition. That’s where hiring a professional property manager can make all the difference.