HCR 2009 Summary

• Proposes amendment to Article IX, Section 18 of Arizona Constitution to create a veteran property valuation protection option for primary residences, effective for tax years beginning after December 31, 2020.

• Eligible veterans must have a service-connected disability rated at 50 percent or greater by the U.S. Department of Veterans Affairs, or qualify for individual employability through that agency.

• Establishes income limits for eligibility: maximum 400 percent of supplemental security income (SSI) benefit rate for single owners, or 500 percent of SSI for multiple owners with at least one qualifying veteran.

• Fixes the property valuation at the amount determined under existing subsection (3) during the year the option is approved, provided owner remains eligible and property is not conveyed to a non-qualifying person.

• Requires application by September 1 annually, county assessor approval decision by December 1, and reapplication every three years to maintain eligibility.