HB 2454 Summary

• Amends Arizona Revised Statutes sections 15-972, 42-11111, 42-11127, 42-11152, and 42-15053 to align statutory language with Arizona Constitution Article IX provisions on property tax exemptions.

• Updates property tax exemption amounts: increases exemption limit from $20,000 to $30,000 total assessment and exemption amount from $3,000 to $4,200 for widows, widowers, persons with disabilities, and veterans with disabilities.

• Establishes annual adjustment mechanism using GDP price deflator for exemption amounts and income limits, and employment cost index for personal property exemptions.

• Expands exemptions to include veterans with service or nonservice connected disabilities, with exemption amounts further limited by disability percentage rating from the U.S. Department of Veterans Affairs.

• Increases personal property exemption maximum from $50,000 to $220,000 of full cash value for agricultural property and business property meeting specified criteria.

• Conditional enactment: Bill becomes effective only if Arizona voters approve a constitutional amendment at the next general election consolidating property tax exemption provisions.