HB 2515
Initials VP/DD Page 1 Ways & Means
☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note
ARIZONA HOUSE OF REPRESENTATIVES
Fifty-seventh Legislature
First Regular Session
HB 2515: truth in taxation; bonds; notices
Sponsor: Representative Olson, LD 10
Committee on Ways & Means
Overview
Increases the home value used in informational pamphlets for override and class B bond
elections to $400,000, the valuation for owner-occupied residence and commercial value used
in bond elections to $400,000 and $1,500,000 respectively and makes corresponding changes
to Truth in Taxation notices.
History
Currently for override elections the county school superintendent is required to include
information regarding the tax rate associated with the proposed capital improvements and
the estimated cost for owners of single family homes valued at $80,000 in an informational
pamphlet which would be distributed to qualified electors within the schools district (A.R.S.
§ 15-481).
Currently for class B bond elections the county superintendent is required to include
information regarding the tax rate associated with the proposed capital improvements and
the estimated cost for owners of single family homes valued at $100,000 in an informational
pamphlet which would be distributed to qualified electors within the school district (A.R.S. §
15-491).
Currently for bond elections a governing body or board of a political subdivision is required
to mail an informational pamphlet to registered voters within political subdivision containing
the estimated tax impact over the term of bonds on an owner-occupied residence valued at
$250,000 and on commercial property valued at $1,000,000 (A.R.S. § 35-454).
Currently Truth in Taxation notices use a home value of $100,000 to show the property tax
in a school district with or without the proposed property tax increases (A.R.S. § 15-905.01).
Provisions
1. Increases the home value used for informational pamphlets regarding override elections
from $80,000 to $400,000. (Sec. 1)
2. Increases home value used from $100,000 to $400,000 for class B bond elections. (Sec. 2)
3. Amends truth in taxation notices, increasing the home value used from $100,000 to
$400,000. (Sec. 3, 6. 7 and 8)
4. Amends the home value referenced for computing a tax increase from $100,000 to
$400,000. (Sec. 6) HB 2515
Initials VP/DD Page 2 Ways & Means
5. Increases the owner-occupied residence value used for informational pamphlets regarding
bond elections $250,000 to $400,000. (Sec. 5)
6. Increases the commercial value used for informational pamphlets regarding bond
elections from $1,000,000 to $1,500,000. (Sec. 5)
7. Specifies that the phrase contained on a ballot must be in boldface type. (Sec. 5)
8. Adds to the phrase contained on the ballot specifying that the bonds will be paid through
a tax on all taxable property located within a district or jurisdiction and that the bonds
are payable without limits to the rate or amount. (Sec. 5)
9. Makes technical changes. (Sec. 1 and 5)