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ARIZONA STATE SENATE
Fifty-Fourth Legislature, First Regular Session
TPT; residential rentals; notice
Purpose
Requires a city or town to inform owners of residential rental properties of any new or increased tax rate.
Background
Current statute prohibits a city or town that levies a transaction privilege, sales, gross receipts, use, franchise or other similar tax or fee; however denominated, from imposing or increasing the rate of tax applied to the business of renting or leasing real property for residential purposes unless approved by the qualified electors of the city or town at any regular municipal election (A.R.S. § 42-6011). Statute specifies that this requirement applies whether or not the city or town has adopted the Model City Tax Code.
There is no anticipated fiscal impact to the state General Fund associated with this legislation.
Provisions
1. Requires a city or town that levies a transaction privilege, sales, gross receipts, use, franchise or other similar tax or fee, applied to the business of renting or leasing real property for residential purposes, to notify by first class mail all owners of residential rental properties that are currently registered with the county assessor of the county in which the property is located, of any imposition or increase to the rate of tax, at least 60 days before the effective date of the new or increased rate.
2. Makes conforming changes.
3. Becomes effective on the general effective date.
House Action
WM 2/6/19 DP 10-0-0-0
3rd Read 2/14/19 60-0-0
Prepared by Senate Research
March 8, 2019
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