$550,000 :: 7543 N Mockingbird Lane, Paradise Valley AZ, 85253

QUICK FACTS: Paradise Valley is an affluent town in Maricopa County, Arizona, United States. According to 2005 Census Bureau estimates, the population of the town was 14,558. The Town of Paradise Valley was incorporated in May of 1961.

REAL ESTATE: It encompasses an area of 16.5 square miles. Despite the town's relatively small area and population compared to other municipalities in the Phoenix metropolitan area, Paradise Valley is home to twelve resorts, making it one of Arizona's premiere tourist destinations. It has exclusive real estate, with a median home price at $1.79 million and average at $2.3 million; with many exceeding $5 million and some over $20 million.

FINANCES: The Town collects no property taxes from residents. The Town's main sources of revenue are a share of the State of Arizona sales tax, income tax and gasoline taxes, a 1.65% Town sales tax, a 3% Town bed tax, a 1.65% Town use tax, permit fees, annual franchise fees from the utilities, and interest from investments.