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State Guide48th StateEst. 1912
Arizona State Flag

Arizona AZ

"The Grand Canyon State"

From the towering red rocks of Sedona to the vast chasm of the Grand Canyon, Arizona is a land of dramatic beauty and striking contrasts. A booming Sun Belt state with a rich Indigenous heritage, booming tech economy, and some of the most iconic landscapes in America.

Arizona state finances at a glance

State Debt - FY2024

$6.9 billion

Total state government debt outstanding at the close of fiscal 2024, including long-term bonds and short-term borrowing across state agencies and public universities.

Tax Revenue - FY2024

$25.1 billion

Total Arizona state tax collections in fiscal 2024, led by the general sales (transaction privilege) tax ($13B) and the individual income tax ($4.8B).

Borrowing

Arizona's constitution limits general state debt to $350,000, so the state borrows almost entirely through lease-purchase deals, certificates of participation, and revenue bonds issued by state agencies. These are sold to investors in the tax-exempt municipal market and repaid from future appropriations or dedicated revenues. The state reported about $292 million in interest on its debt in fiscal 2024.

Source: U.S. Census Bureau, 2024 Annual Survey of State Government Finances.

48th
State admitted to the Union
114K
Square miles
7.62M
Population
Grand Canyon
Natural Wonder
…

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