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AZ HB2394
Bill
Status
Introduced
1/22/2026
Primary Sponsor
Leo Biasiucci
Click for details
AI Summary
- Reduces the property tax assessment ratio for owner-occupied residential property from 10% to 5% of the property's limited value by creating a new class one property classification
- Establishes class one property as residential property that is the owner's primary residence, with owner occupancy determined as of January 1 of each tax year
- Requires property owners to apply annually for the reduced assessment ratio, with the county assessor verifying residency through property records, voter registration, or driver's license information
- Exempts class one residential property from the existing 5% annual cap on limited property value increases that applies to other property classes
- Applies to property taxes beginning in tax year 2027, with applications accepted starting January 1, 2027
Legislative Description
Property tax; residential property
Last Action
House read second time
1/26/2026
Committee Referrals
Rules1/22/2026
Ways and Means1/22/2026
Full Bill Text
No bill text available