AZ SB1249

Amends Arizona Revised Statutes sections 15-972, 42-11111, 42-11127, 42-11152, and 42-15053 to conform statutory language with Arizona Constitution article IX provisions regarding property tax exemptions.

Creates new section 42-11134 establishing a property tax exemption for primary residences of veterans with service or non-service connected disabilities, with the exemption amount determined by multiplying assessed valuation by the veteran's disability percentage as rated by the U.S. Department of Veterans Affairs.

Modifies exemption provisions for widows, widowers, and persons with disabilities by updating cross-references to constitutional sections and adjusting income and assessment limitation amounts based on GDP price deflator increases.

Updates the exemption for personal property used in agriculture or trade/business (class one and two property) to increase the maximum exemption amount based on employment cost index changes instead of previous standards.

Bill becomes effective only upon voter approval of Senate Concurrent Resolution ____ at the next general election to consolidate and reorganize constitutional provisions relating to property tax exemptions.