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.
Text of the measure
The summary of the measure reads as follows:
||A Concurrent Resolution proposing an amendment to Constitution of Arizona; Amending Article IX, Section 18, Constitution of Arizona; Relating to property tax assessed valuation.
- State Senator Steve Smith stated, "Prop. 117 will limit annual assessed value growth to 5 percent and will protect property taxpayers from dramatic increases in property valuations that often lead to significant tax increases. In addition, Prop 117 will simplify one of the most complicated property tax systems in the country."
- According to Lynne Weaver, chairman of Prop. 13 Arizona, in an editorial, "Prop. 117 does nothing to stop tax overrides put on the ballot by school districts. The maximum override used to be 10 percent but it was increased to 15 percent and a special election was held to allow the school districts to raise your taxes immediately. Will they increase overrides to 20 percent? 25 percent? More?"
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.
- ↑ Arizona Legislature, "SCR 1025", Retrieved May 14, 2012
- ↑ Arizona Secretary of State, "Ballot Measures", September 17, 2012
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
- ↑ In Maricopa, "Steve Smith: Ballot proposition recommendations", October 15, 2012
- ↑ Camp Verde Bugle Online, "My Turn: Prop. 117 does nothing to limit property taxes", August 16, 2012