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ARIZONA HOUSE OF REPRESENTATIVESFifty-seventh Legislature First Regular Session |
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HB 2389: business personal property; exemption.
Sponsor: Representative Carter N, LD 15
Committee on Ways & Means
Overview
Exempts locally assessed business personal property from property taxation beginning January 1, 2026.
History
The Legislature may determine by law the qualifications and exemption amounts for property (Ariz. Const. Art. 9 § 2).
The following personal properties are given a $269,905 business personal property tax exemption: 1) properties used for agricultural purposes; 2) properties primarily used for agricultural purposes to produce trees other than standing timber, vines, rosebushes, ornamental plants or horticultural crops, regardless of whether the crop is grown in containers, soil or any other medium; 3) shopping centers; 4) golf courses; 5) manufacturers, assemblers or fabricators; 6) properties used in communications transmission facilities and that provides public telephone or telecommunications exchange or interexchange access for compensation to effect two-way communication to, from, through or within Arizona; and 7) properties devoted to any other commercial or industrial use, other than properties specifically included in other classifications.
Provisions
1. Exempts locally assessed business personal property. (Sec. 7, 8, 9, 10, 11, 12, 18, 19, 20)
2. Repeals statutes related to the taxable value of personal property, reducing the minimum value for property in use and the taxable value of solar energy devices classified as personal property. (Sec. 15)
3. Specifies that this Act applies to tax years beginning January 1, 2026.
4. Makes technical and conforming changes. (Sec. 1, 2, 3, 4, 5, 6, 13, 14, 16, 17)
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8. HB 2389
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