ARIZONA STATE SENATE
Phoenix, Arizona
city charges;
telecommunicatoins facilities
(NOW: county equalization
assistance; education)
Purpose
Makes changes to the rate of the tax levy of the for county equalization assistance for education to conform with the existing truth in taxation statute.
The truth in taxation statute was originally enacted by Laws 1996, Seventh Special Session, Chapter 3. This legislation, which began in the 1997 tax year, requires truth in taxation hearings if the proposed property tax levy is greater than the amount levied by the jurisdiction in the prior tax year.
Currently, the tax levy for county equalization assistance for education is assessed at a specific rate in the statute. The strike everything amendment to S.B. 1128 requires the rate to conform with computations prescribed in the truth in taxation statutes.
Additionally, the strike everything amendment to S.B. 1128 sets the county equalization assistance for education tax rate at 49.74 cents per $100 of net assessed valuation (NAV) for 2001 tax year to comply with the truth in taxation law requiring a reduction in the tax in proportion to the statewide appreciation rate of existing property.
1. Requires the tax levied for county equalization assistance for education be determined according to rates as prescribed under the truth in taxation levy statute.
2. Sets, for the 2001 tax year, the tax rate for the county equalization assistance for education at 49.74 cents per $100 NAV.
3. Provides for a general effective date.
Amendments Adopted by Committee
1. Adopted the strike everything amendment.
2. Removes the 2002 tax year from the years included under the rate set for the county equalization assistance for education tax levy.
Senate Action
FIN 3/5/01 DPA/SE 8-0-0-0
3rd Read 3/14/01 29-0-1-0
Prepared by Senate Staff
March 27, 2001