AZ SB1219

Amends Arizona Revised Statutes section 9-403 to change the threshold for when cities and towns must hold a special election before selling real property.

Replaces the fixed dollar amount of $1.5 million with a calculation based on 2.5% of the locally assessed real property value of the city or town as stated in the annual levy limit worksheet provided by the county assessor's office.

Maintains existing requirements that ballot descriptions include property details and reasons for sale in eight-point type, limited to 100 words.

Preserves the provision allowing property sale at public auction to the highest bidder for cash if voters approve the sale by majority vote.