The Arizona Property Tax Assessed Valuation Amendment
, also known as Proposition 117
, will be on the November 6, 2012 general election
ballot in the state of Arizona
as a legislatively-referred constitutional amendment
. The measure would limit the annual growth in the limited property value of locally assessed properties. The limit would begin in 2015. The formal title of the measure was Senate Concurrent Resolution 1025.
Path to the ballot
A majority vote is required in the Arizona State Legislature to send a constitutional amendment to the ballot. Arizona is one of ten states that allow a referred amendment to go on the ballot after a majority vote in one session of the state's legislature.