AZ SB1226

Authorizes city or town governing bodies to adopt a resolution by two-thirds vote to conduct an election for a property tax levy exceeding primary tax limitations under Arizona Constitution Article IX, Section 19, Subsection (5).

Requires the resolution to specify the duration (2-7 years), purpose, maximum dollar amount of secondary property taxes per year, and estimated tax rate for the first year.

Election must be held on the first Tuesday following the first Monday in November pursuant to Arizona election law.

Collected revenues must be deposited in a separate special fund, used only for purposes stated in the resolution, and any unexpended balance reduces the following year's levy or primary property tax if authority expires.

Secondary property taxes collected are excluded from primary property tax levy limitations and are not subject to constitutional limitations on taxes under Article IX, Section 18 of the Arizona Constitution.