Arizona's rental tax set to be eliminated in 2025

Colton, Kylie, good morning and this obviously money goes a long way for people who are really struggling living check to check, but like you mentioned, each city varies. Let's run through a couple for an example. Phoenix's rental tax rate is 2.3% while Mesa's at 2% residents in Cave Creek pay as much as 3%. Republican lawmakers want to get rid of the tax as a way to help people deal with the rising cost of living in Arizona. Some experts disagree though that this will have much of an effect long term. We spoke to Jake Beeson who provides affordable housing in the valley. He believes this will make a really big difference to people who are struggling. It's going to mean quite a bit for some tenants. We work with Community Housing Partnership as one of our clients, which has qualified low income and very low income housing. And those rents are sometimes around $900 to $1,000 a month. So for a low income or very low income family to have a 2% discount every month, it doesn't sound like that much, but if you're paying $900 a month in rent, that's $18. $18 is a whole month of discounted lunches at your kid's school. And Arizona's family reached out to League of Arizona Cities and Towns who is against this rental tax elimination because they say it's going to cost cities and their budget around $230 million. And of course they say this affects essential services like police, fire parks and more. So they said that local leaders, they're working to address the challenges before the repeal takes effect, which is now in just a couple of days. And the rental tax elimination takes effect immediately, guys, and tenants won't have to do anything. This is something that's going to be immediately taken off of their balance sheet. Colton, Kylie, we'll send it back to you.