Wealthy Californians Are Flocking to Arizona’s Richest City

But now, even wealthy Californians are ditching the state to keep the money they do have. These residents are simply choosing states, like Arizona, with lower taxes, but they are still living the high life in the richest city in the state.

However, now, the cost of living in California has grown exponentially, houses are wildly more expensive than in most other states, and the taxes are through the roof. Therefore, even the wealthy have realized they can be richer in almost any other state.

Arizona has quickly become one of the most popular destinations because it is far cheaper but also still provides the warm weather, gorgeous landscapes, and opulent lifestyle that California residents are accustomed to.

It’s also important to note that California’s average combined tax rate is 8.5%, while Arizona’s is only 8.3%, which can make a substantial difference for high earners.

Arizona’s richest city, Paradise Valley, is known for having all of the above and is, therefore, attracting thousands of California’s elite.

Not to mention the luxurious spas, nearby hiking, professional sporting events, art galleries, and world-rated restaurants. In other words, Paradise Valley is quite literally paradise for the affluent.

Many of these mansions cost somewhere between $15 and $50 million, but they are unquestionably some of the most beautiful, enormous, and perfectly designed homes one could ever see.

However, Paradise Valley doesn’t have the retiree vibe that some Florida towns do. It still feels hip, young, and certainly exclusive.

Add to the list several celebrities, including former vice president Dan Quayle, famous Olympian Michael Phelps, rock legend Alice Cooper, Sandra Day O’Connor, Muhammad Ali, Shaquille O’Neal, Mike Tyson, and the great Stevie Nicks, who call Paradise Valley home.

That means the uber-wealthy and celebrity population can be in the popular metropolis or at the Phoenix Sky Harbor International Airport in no time at all.

Experts believe this once-small town will soon have absolutely everything well-to-do Americans want and may soon become even more famous than the original Beverly Hills.

This lack of tax income has and will continue to affect California’s ongoing budget crisis, while states like Arizona will profit from their new wildly wealthy residents.