Arizona Property Tax Valuation Rollback (2008)
|Not on Ballot|
| This measure did not or |
will not appear on a ballot
|Property Tax Valuation Rollback|
|Initiated Constitutional Amendment|
|Subject||Property tax cut|
|Sponsored by:||Arizona Tax Revolt|
The Property Tax Valuation Rollback was an initiated constitutional amendment that would have served as a backup measure for its levy rollback, providing relief for property owners who suffered from large increases in assessed valuation in recent year. The initiative would have used a complex mathematical system for future assessments that attempted to ensure that similar properties were valued similarly.
The initiative would have become effective in 2009 when it would have reduced the tax of each taxing entity to its average tax revenue over the last four years or its 2005 amount. If the initiative had been passed, tax increases would have been limited to two percent or would have required a two-thirds vote to exceed the levy limit. It would have also allowed residents the right to petition and vote for reductions in future property taxes.
School funding K-12 would not have been impacted because of Proposition 301 passed in 2000.
This initiative was meant to close the gap that was left by Prop 101 which was referred by the Arizona Legislature on the 2006 ballot. It was approved by the voters and was a step towards limiting property tax increases in most counties and cities. However, a typical taxpayer's property tax bill could include many taxing districts, most of which are not covered under Prop 101.
Some examples included:
- Mountain Fire District in Maricopa County had a 43.7 percent tax increase this year and has grown at an average of 33.3 percent each of the last seven years.
- Bullhead City Fire District in Mojave County which had a 50.1 percent tax increase in 2008 with an average of 78 percent over the last three years.
The National Taxpayers Union had said that the initiative was a way to settle the gap between taxes and the housing slump. Property tax collections by states and localities hit $388.5 billion in June. That was an increase of 6.8% vs. the comparable period a year earlier while housing prices are down 4.9% from 2006.
Marc Goldstone, chairman of the Arizona Tax Revolt, hosted a meeting for Benson residents to learn about the tax system that gave Arizona the highest property tax rate of all the mountain states. Goldstone accused the state of creating only Band-Aid fixes for the past 28 years.
Governor of Arizona Napolitano had recently vetoed a tax repeal, quoting the state's deficit budget as a reason. The veto unleashed an immediate campaign by a business coalition to have GOP legislative leaders fold the tax repeal into ongoing budget negotiations or to place it on the November ballot.
The group did not collect the 230,047 signatures from registered voters by June 2008, so it did not get on the ballot.
- Arizona 2008 Ballot Measures
- Prop 13 Arizona (2008)
- Arizona Property Tax Levy Rollback (2008)
- Arizona signature requirements
- Petition drive deadlines in 2008
- Arizona Initiative and Referendum Law
- Campaign finance requirements for Arizona ballot measures
- Property Taxpayers: Help is Coming!, AZ Political Intel Blog
- San Pedro Valley News, Arizona Tax Revolt gathering held, April 9, 2008
- Guide to AZ Ballot Initiatives for Property Tax Reform, Americans for Prosperity
- Tax Revolt Simmers Amid Housing Slump, Rising Property Levies, IBD, Nov. 8, 2007
- Arizona Rebpublic, Businesses assail governor for axing property-tax cut, April 17, 2008