Bill Text: AZ SB1163 | 2011 | Fiftieth Legislature 1st Regular | Introduced

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Bill Title: Business property tax assessment percentage

Spectrum: Partisan Bill (Republican 11-0)

Status: (Introduced - Dead) 2011-02-03 - Referred to Senate RULES Committee [SB1163 Detail]

Download: Arizona-2011-SB1163-Introduced.html

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REFERENCE TITLE: business property tax assessment percentage

 

 

 

State of Arizona

Senate

Fiftieth Legislature

First Regular Session

2011

 

 

SB 1163

 

Introduced by

Senators Yarbrough, Barto, Biggs, Gould, McComish, Murphy, Pierce S, Smith: Allen, Bundgaard, Reagan

 

 

AN ACT

 

Amending sections 42-15001 and 42-15002, Arizona Revised Statutes; relating to property tax assessment percentages.

 

 

(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:

START_STATUTE42-15001.  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. END_STATUTE

Sec. 2.  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):  sixteen per cent through December 31, 2012 and fifteen per cent beginning from and after December 31, 2012.

2.  Class two (P):  sixteen per cent through December 31, 2012, and fifteen per cent beginning from and after December 31, 2012, of the value exceeding the maximum amount of valuation of personal property that is exempt from taxation pursuant to section 42-11127. END_STATUTE