Ongoing Revenues Per $1,000 of Personal Income, Arizona State Government General Fund
Through the early 1990s, ongoing general fund revenues in Arizona averaged nearly $49 per $1,000 of personal income (alternatively, were equal to approximately 4.9 percent of personal income). A long series of tax reductions since then have not only greatly lowered revenues, but have made revenue collections much more cyclical. Even at the peak of the economic cycle in fiscal year (FY) 2006 and FY 2007, revenues relative to the size of the economy and to the ability of Arizonans to pay taxes and fees were less than the long-term average. At the recessionary trough in fiscal year 2010, ongoing revenues per $1,000 of personal income were only $29. The figure in FY 2014 slightly exceeded $33, but this still was at least $4 less than any figure prior to FY 2009.