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AZ Proposition 116 (2012)

Posted on | October 22, 2012 | No Comments

Prop 116: Proposing an amendment to the constitution of Arizona; amending article ix, section 2, constitution of Arizona; relating to property tax exemptions.

I am always in favor of anything that allows people to keep more of their money. I am also in favor of a move to allow businesses more liquidity with their revenue. A tax exemption for business sounds like a good idea to me.

Arizona farmers and small businesses incur a heavy tax burden on their equipment and machinery before they harvest their first crop or make their first sale. Currently, Arizona is one of only a few states that tax equipment and machinery this way, exempting those investments will not only free up revenue, but make this state more attractive to businesses considering location options.

This is another measure enjoying bipartisan support, having passed unanimously through the legislature.

  • A “yes” vote shall have the effect of setting the amount exempt from annual taxes on business equipment and machinery purchased after 2012 to an amount equal to the combined earnings of 50 Arizona workers.
  • A “no” vote shall have the effect of keeping current constitutional law related to annual taxes on business equipment and machinery.

Proposition 116 is a YES



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Category: AZ, politics
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