AZ SCR1018

Proposes constitutional amendments to Articles IX, sections 8, 8.1, 18 and 19 of the Arizona Constitution relating to property taxes and valuation limits.

Changes the property valuation increase limit from 10 percent per year to 5 percent per year for residential property used in calculating ad valorem taxes (except bonded indebtedness issued before January 1, 2013).

Extends the property valuation protection option for seniors aged 65+ to allow them to freeze their primary residence value at the full cash value when first filed, with income limits based on supplemental security income benefit rates.

Applies the 2 percent annual tax levy increase limitation to all taxes beginning after December 31, 1981, and exempts bonded indebtedness issued before January 1, 2013 from the limitation.

Requires the Secretary of State to submit this proposition to Arizona voters at the next general election for approval as a constitutional amendment.