Roberts: Arizona's largest office complex pays no property taxes

The Arizona Republic
Monday, December 18, 2017
Laurie Roberts
You’re driving on Loop 202 toward Tempe and there they are, five sparkling glass and steel buildings nestled along Tempe Town Lake.

The complex, which houses the regional headquarters for State Farm Insurance, sold earlier this month for $928 million. It was the largest ever commercial real estate sale in the metro market, according to Business Real Estate Weekly.

So here’s quick quiz. Who do you think pays more in property taxes? Is it:

A. You, with your 1,800 to 3,000 square foot house with a two- or three-car garage on a piece of land the size of a postage stamp.

Or B. The owners of this 2 million-plus-square-foot office complex with 8,300 parking spaces, housed in five buildings that range in height from six to 17 stories on 20 acres of prime lakeside land.

Clearly, the answer is obvious. Yep, it’s you.