AZ HCR2045

Proposes constitutional amendment to add property tax exemption for residential properties occupied by owner as primary residence if property is unencumbered by mortgage, deed of trust, or other security obligation under a purchase contract.

Legislature may prescribe requirements by law to establish compliance with the unencumbered home exemption.

Exemption for unencumbered homes is in lieu of exemption under any other provision of Arizona's constitution, preventing double exemptions.

Renumbers existing veteran and widow exemption provisions from subsections (8)-(12) to subsections (9)-(13) to accommodate the new residential property exemption.

Requires approval by Arizona voters at the next general election following submission by the Secretary of State.