Sunday, January 12, 2014

Revenue skyrockets as sales of state land strengthen

Aided by the improving economy and land prices, the Arizona State Land Department has brought in more revenue recently, a trend that is likely to continue as the state auctions off more land, including prime property in Phoenix’s Desert Ridge area.

The trust has seen revenue skyrocket from land sales and leases as the economy and land prices have bounced back. The State Land Department brought in more than $318 million in fiscal 2013, which ended June 30 — a near 60 percent jump from the previous year, which saw revenue of a little more than $200 million, according to a department official.

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