Bill Text: AZ SB1321 | 2011 | Fiftieth Legislature 1st Regular | Introduced

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Bill Title: Property tax assessment; class two

Spectrum: Partisan Bill (Republican 9-0)

Status: (Introduced - Dead) 2011-02-01 - Referred to Senate FIN Committee [SB1321 Detail]

Download: Arizona-2011-SB1321-Introduced.html

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REFERENCE TITLE: property tax assessment; class two

 

 

 

State of Arizona

Senate

Fiftieth Legislature

First Regular Session

2011

 

 

SB 1321

 

Introduced by

Senators Griffin, Pierce S, Shooter; Representative Judd: Senators Allen, Antenori, Gould, Gray, Melvin

 

 

AN ACT

 

amending section 42-15002, Arizona Revised Statutes; relating to property tax assessments.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Section 42-15002, Arizona Revised Statutes, is amended to read:

START_STATUTE42-15002.  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, 2012.

(b)  Fifteen per cent from and after December 31, 2012 through December 31, 2014.

(c)  Fourteen per cent from and after December 31, 2014.

2.  Class two (P):

(a)  Through December 31, 2012, sixteen per cent of the value exceeding the maximum amount of valuation of personal property that is exempt from taxation pursuant to section 42-11127.

(b)  From and after December 31, 2012 through December 31, 2014, fifteen per cent of the value exceeding the maximum amount of valuation of personal property that is exempt from taxation pursuant to section 42-11127.

(c)  From and after December 31, 2014, fourteen per cent of the value exceeding the maximum amount of valuation of personal property that is exempt from taxation pursuant to section 42-11127. END_STATUTE