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Property Tax Assessed Valuation
A CONCURRENT RESOLUTION PROPOSING AN AMENDMENT TO THE CONSTITUTION OF ARIZONA; AMENDING ARTICLE IX, SECTION 18, CONSTITUTION OF ARIZONA; RELATING TO PROPERTY TAX ASSESSED VALUATION.
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.
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.||”|
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.