Bill Text: AZ HB2339 | 2011 | Fiftieth Legislature 1st Regular | Introduced
Bill Title: Commercial, agriculture property assessment reduction
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2011-02-14 - House WM Committee action: Held [HB2339 Detail]
Download: Arizona-2011-HB2339-Introduced.html
|
REFERENCE TITLE: commercial, agriculture property assessment reduction |
|
State of Arizona House of Representatives Fiftieth Legislature First Regular Session 2011
|
|
HB 2339 |
|
|
|
Introduced by Representative Olson
|
AN ACT
Amending sections 42-15001 and 42-15002, Arizona Revised Statutes; relating to property tax assessed valuation.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 42-15001, Arizona Revised Statutes, is amended to read:
42-15001. Assessed valuation of class one property
The assessed valuation of class one property described in section 42‑12001 is the following percentage of its full cash value or limited valuation, as applicable:
1. Twenty‑five per cent through December 31, 2005.
2. Twenty‑four and one‑half per cent beginning from and after December 31, 2005 through December 31, 2006.
3. Twenty‑four per cent beginning from and after December 31, 2006 through December 31, 2007.
4. Twenty‑three per cent beginning from and after December 31, 2007 through December 31, 2008.
5. Twenty‑two per cent beginning from and after December 31, 2008 through December 31, 2009.
6. Twenty‑one per cent beginning from and after December 31, 2009 through December 31, 2010.
7. Twenty per cent beginning from and after December 31, 2010 through December 31, 2011.
8. Nineteen per cent beginning from and after DECEMBER 31, 2011 through DECEMBER 31, 2012.
9. Eighteen per cent beginning from and after December 31, 2012 through December 31, 2013.
10. Seventeen per cent beginning from and after December 31, 2013 through December 31, 2014.
11. Sixteen per cent beginning from and after December 31, 2014 through December 31, 2015.
12. Fifteen per cent beginning from and after December 31, 2015.
Sec. 2. Section 42-15002, Arizona Revised Statutes, is amended to read:
42-15002. Assessed valuation of class two property
The following percentages apply to the full cash value or limited valuation, as applicable, as a basis for determining the assessed valuation of class two property described in section 42-12002:
1. Class two (R):
(a) Sixteen per cent through December 31, 2011.
(b) Fifteen and one-half per cent beginning from and after December 31, 2011 through December 31, 2012.
(c) Fifteen per cent beginning from and after December 31, 2012 through December 31, 2013.
(d) Fourteen and one-half per cent beginning from and after December 31, 2013 through December 31, 2014.
(e) Fourteen per cent beginning from and after December 31, 2014.
2. Class two (P): sixteen per cent A percentage of the value exceeding the maximum amount of valuation of personal property that is exempt from taxation pursuant to section 42-11127 as follows:
(a) Sixteen per cent through December 31, 2011.
(b) Fifteen and one-half per cent beginning from and after December 31, 2011 through December 31, 2012.
(c) Fifteen per cent beginning from and after December 31, 2012 through December 31, 2013.
(d) Fourteen and one-half per cent beginning from and after December 31, 2013 through December 31, 2014.
(e) Fourteen per cent beginning from and after December 31, 2014.
