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Arizona Property Tax Levy Rollback (2008)

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The Property Tax Levy Rollback proposed a property tax cap similar to California's Prop. 13. The tax levy would have created a system of property taxation with sensible limits that would have allowed 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 have broadened the existing two percent limit for levy increases to include all taxing districts. It would also have rolled many levies back to 2005 levels, and required 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 have qualified for a rollback to the average levy of the years 2005 to 2008.

Support

The Arizona Tax Revolt sponsored the initiative. The group believes that it would have closed the gap from Proposition 101 that had allowed multiple authorities, such as schools, counties and fire fighting districts, to tax Arizona homeowners.[1]

Americans for Prosperity (AFP) also had endorsed the initiative.[2]

The National Taxpayers Union said that the initiative would have been 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 bore no resemblance to California's Prop 13. Prop 13 had set a property's value as the purchase price. Tax Revolt left the Assessor in place to select "comparable properties", determine the comps' values in 2003, and create a value for a new property based on the comps' 2003 values.

Status

The proposal did not make it to the November, 2008 ballot.

See also

External links

References