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Arizona Residential Property Tax Valuation, Proposition 104 (2000)

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Arizona Proposition 104, also known as the Constitutional Amendment Relating to Residential Property Tax Valuation, was on the November 7, 2000 election ballot in Arizona, where it was approved.[1]

Aftermath

In 2002, a ballot measure, Proposition 102, was approved. It revoked the tax valuation protection authorized by Proposition 104 for multiple owners with income exceeding $32,700.

Election results

Residential Property Tax Valuation
ResultVotesPercentage
Approveda Yes 906,395 63.8%
No513,82536.2%
Election results from Arizona Elections Department.

Text of measure

The summary from Arizona Legislative Council was:

Proposition 104 would amend the Arizona Constitution relating to residential property tax valuation. Under current law, all similarly classified property is taxed in a uniform manner.

Proposition 104 would provide an exception to this uniform method of property taxation by allowing the value of the primary residence of qualifying owners to remain at a fixed amount. An owner could request that the value of their primary residence, including a single family home, condominium, townhouse or mobile home and up to 10 acres of undeveloped accompanying land, remain fixed by applying for a "property valuation protection option" with the county assessor. The county assessor would grant the option if all of the following requirements are met:

1. The owner is an Arizona resident. 2. At least one of the owners of the primary residence is at least 65 years old. 3. The property is the primary residence of the owner. 4. The owner has resided at the property for at least two years before applying for the property valuation protection option. 5. The owner's total income from all sources, including nontaxable income, shall not exceed 400% of the Supplemental Security Income (SSI) benefit rate. If two or more persons own the property, the owners' combined total income from all sources cannot exceed 500% of the Supplemental Security Income benefit rate. (The current annual SSI benefit rate is $6,144.)

If the county assessor grants the option, the value of the owner's primary residence would remain fixed at the full cash value that was in effect when the option was filed. The owner would be required to renew the option every three years. If ownership of the property transfers to a person who does not qualify for the option, the option would terminate and the property would be revalued.

Proposition 104 would only freeze the property value of qualifying owners. Proposition 104 would not freeze property tax rates or the actual amount of taxes that are paid.[2] [3]

See also

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External links

References

  1. Arizona 2000 election results
  2. NCSL ballot measure database, accessed December 31, 2013
  3. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.