Arizona Property Tax Levy Rollback (2008)
From Ballotpedia
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| This measure did not appear on a ballot. |
The Property Tax Levy Rollback is a property tax cap similar to California's Prop. 13. The tax levy would create a system of property taxation with sensible limits that allow the voters both the last word on tax increases that would exceed a levy limit and a means to reduce taxes and keep government spending in check.
The Arizona Tax Revolt levy limitation initiated constitutional amendment would broaden the existing two percent limit for levy increases to include all taxing districts. It would also roll many levies back to 2005 levels, and require a two-thirds majority for voter approval to raise any future levy faster than two percent in one year. Districts with modest increases in levies this year would qualify for a rollback to the average levy of the years 2005 to 2008.
Support
The Arizona Tax Revolt is sponsoring the initiative. The group believes that it will close the gap from Proposition 101 that allowed multiple authorities, such as schools, counties and fire fighting districts, tax Arizona homeowners.[1]
Americans for Prosperity (AFP) has also endorsed the initiative.[2]
The National Taxpayers Union has said that the initiative is 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.[3]
Opposition
Arizona Tax Revolt bears no resemblance to California's Prop 13. Prop 13 sets a property's value as the purchase price. Tax Revolt leaves the Assessor in place to select "comparable properties", determine the comps' values in 2003, and creates a value for a new property based on the comps' 2003 values.
Status
Has not qualified to be on the Nov. 2008 ballot.
See also
- Arizona 2008 Ballot Measures
- Arizona signature requirements
- Petition drive deadlines in 2008
- Arizona Initiative and Referendum Law
- Campaign finance requirements for Arizona ballot measures
External links
- Arizona Tax Revolt Ballot language
- Listing of Arizona's 2008 ballot measures, Secretary of State website
