The proposed bill would amend several sections of the Arizona Revised Statutes to enhance transparency regarding the tax implications of proposed capital improvements and property tax increases. Specifically, it would require the inclusion of the tax rate and estimated costs associated with capital improvements for single-family homes valued at $100,000 and $400,000 in informational pamphlets for school district budget override elections and Class B bond elections. Additionally, the bill mandates that the estimated tax impact of property tax increases on homes valued at $400,000 be included in Truth in Taxation (TNT) notices and other relevant election materials.

Furthermore, the bill would replace outdated valuation figures, such as the previous $80,000 and $100,000 thresholds, with the new $100,000 and $400,000 values. It would also introduce new requirements for bond election ballots, ensuring that voters are informed about the potential tax increases associated with bond authorizations. Overall, these updates aim to provide clearer information to taxpayers regarding the financial implications of proposed tax measures and capital improvements.

Statutes affected:
Introduced Version: 15-481, 15-491, 15-905.01, 15-1461.01, 35-454, 41-1276, 42-17107, 48-254, 16-204, 15-905, 42-12003, 42-12001, 15-422, 15-423, 15-424, 15-426, 15-403, 15-947, 15-482, 15-949, 15-971, 15-447, 15-342, 15-493, 15-401, 15-402, 15-910, 15-910.01, 1999-2000, 15-995, 15-907, 42-17052, 42-17002, 42-17051, 15-1461, 42-17105, 42-12002, 42-17151, 42-17103, 42-17104
House Engrossed Version: 15-481, 15-491, 15-905.01, 15-1461.01, 35-454, 41-1276, 42-17107, 48-254, 16-204, 15-905, 42-12003, 42-12001, 15-422, 15-423, 15-424, 15-426, 15-403, 15-947, 15-482, 15-949, 15-971, 15-447, 15-342, 15-493, 15-401, 15-402, 15-910, 15-910.01, 1999-2000, 15-995, 15-907, 42-17052, 42-17002, 42-17051, 15-1461, 42-17105, 42-12002, 42-17151, 42-17103, 42-17104