A coalition that has been working on a ballot measure since last summer to extend the 1-cent sales tax increase for education and other uses formed a campaign committee on Thursday and immediately put $50,000 into its war chest.Read More »
Arizona certainly needs property tax reform. We have the most complicated and complex property tax system in the nation, one that produces unpredictable and inexplicable property tax bills for homeowners and businesses. With a “share of the pie” system driven not by what your property is worth, but rather how much money the taxing districts want to spend, you are always one tax bill away from an unaffordable property tax problem.Read More »
Shoppers who dodge sales taxes by turning to the Internet may see their options begin to narrow if a measure in the Arizona Senate becomes law.Read More »
If a proposed constitutional amendment wins voter approval this fall, the threshold for raising taxes at all levels of government in the state will be made significantly higher and could make it nearly impossible for tax increases or extensions to ever occur.Read More »
Arizona legislators may take an in-depth look at the state's tax system, with an eye toward broadening the sales tax while phasing out the individual and corporate income taxes.Read More »
The Senate on Jan. 19 approved a two-bill package that expands a program allowing a dollar-for-dollar tax credit for contributions to groups that give scholarships to private school students.Read More »
Three bills to eliminate or reduce the capital gains tax cleared a House committee today, despite objections from Democrats that a reduction would be too costly for the state.Read More »
With the budget stabilizing and the economy needing another boost, some lawmakers have set their eyes on drastic tax reductions, including proposals to lower or eliminate the capital gains tax.Read More »
An influential tax policy group will seek to put a measure on the ballot to limit growth in property values.
The Arizona Tax Research Association wants taxable property values to grow by no more than 5 percent each year.
Businesses planning on purchasing new machinery in 2013 or later may get some tax relief under a referendum at the state Legislature. HCR 2009, sponsored by Rep. Jack Harper, R-Surprise, and developed by the Arizona chapter of the National Federation of Independent Businesses would exempt the first $2.4 million of new equipment or machinery purchased after 2013 from the business personal property tax. Currently, the exemption is $68,079.Read More »