SB 1495
Initials VP/MG Page 1 Caucus & COW
ARIZONA HOUSE OF REPRESENTATIVES
Fifty-sixth Legislature
Second Regular Session
Senate: FICO DP 4-2-1-0 | 3
rd
Read 16-10-4-0-0
House: WM DP 5-4-0-1
SB 1495: personal property exemption; increase
Sponsor: Senator Mesnard, LD 13
Caucus & COW
Overview
Increases the business personal property tax exemption to $500,000.
History
The Legislature may determine by law the qualifications and exemption amounts for
property (Ariz. Const. art. 9 § 2).
The following personal properties are given a $248,691 business personal property tax
exemption:
1) properties used for agricultural purposes;
2) properties primarily used for agricultural purposes to produce trees other than
standing timber, vines, rosebushes, ornamental plants or horticultural crops,
regardless of whether the crop is grown in containers, soil or any other medium;
3) shopping centers;
4) golf courses;
5) manufacturers, assemblers or fabricators;
6) properties used in communications transmission facilities and that provides public
telephone or telecommunications exchange or interexchange access for compensation
to effect two-way communication to, from, through or within Arizona; and
7) properties devoted to any other commercial or industrial use, other than properties
specifically included in other classifications (A.R.S. §§ 42-11127, 42-12001, 42-12002).
Provisions
1. Increases the business personal property tax exemption to $500,000. (Sec. 1)
2. Becomes effective on January 1, 2025. (Sec. 2)
☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☒ Fiscal Note