ARIZONA STATE SENATE
Phoenix, Arizona
education; county equalization
assistance
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The truth in taxation statute was originally enacted by Laws 1996, Seventh Special Session, Chapter 3.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. S.B. 1265 requires the rate to conform with computations
prescribed in the truth in taxation statutes.
Additionally, S.B. 1265 sets
an unspecified tax levy in order to reconcile with ongoing discussion about the
state budget for the tax years 2001 and 2002.
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. Applies, for the tax years 2001 and 2002, an unspecified rate for the county equalization assistance for education tax.
3. Provides for a general effective date.
Prepared by Senate Staff
February 1, 2001