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In Maricopa County, Grand Canyon University topped the list as Phoenix’s No. 1 taxpaying building in 2016, forking over $6.5M in tax contributions last year. The property tax ranking was done by CRE blog CommercialCafé, which combed through PropertyShark data and county public records.
The 24-story Central Arts Plaza took second place, shelling out a little over $2M in 2016. Chase Tower came in third, receiving a $1.9M tax bill.
The Hyatt Regency Hotel (paying $1.87M) and the Arizona Grand Resort (paying $1.64M) are the only hospitality assets on the list. The only industrial building to make the list, the 7010 West Van Buren Target Distribution Center, hit fifth position, doling out $1.7M last year.
Compared with other parts of the nation, Phoenix has relatively low commercial property taxes. No property in all of Arizona made CommercialCafé's list of top 100 highest taxpaying properties nationwide, a list whose lowest-ranking property had a 2016 tax bill of $14.7M. That was the case even though Phoenix ranks as one of the fastest-growing cities in the nation.
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