IRA Rollover

There is no doubt that property tax reform is long overdue however this “slash and burn” measure reads as if it was written by someone in way over their head.

Like their failed initiative offering during the last election cycle, it is poorly thought out, it has incorrect spelling and more importantly does not appear to meet the constitutional and statutory requirements necessary for initiatives to be placed onto the ballot.

Those who improved their property after 2003 would not pay their fair share since the taxable value can not be increased for any reason. The worst case scenario is that you purchased a lot for $10,000 prior to 2003 and then built an identical $1,000,000 home to the one next door. Your value would be $10,000 and your neighbor’s $1,010,000. Under weaver’s system, your neighbor would pay $5,050 each year in taxes as compared with your $50 payment. Now imagine switching places with your neighbor!

More importantly, if we ignore the many drafting problems, it would shift the tax burden substantially. Of great importance to some, it does not address how property purchased on 12/31/2003 is to be valued and most importantly it would decimate local services.

If you were one of the lucky ones to have a $50 tax bill, know that your children will make up for it when they buy a home. Don’t you think that Washington has with its “bailouts” shifted just about enough of the tax burden onto our children and grandchildren without a measure like this to exacerbate the situation?

The Arizona Tax Revolt has been sharing its extensive knowledge of the property taxation system and our carefully architected solutions with the Legislature. The end result of this work will be a couple of strike everything bills to be submitted by Senator Gould. Keep an eye out for these in the coming months and ask your representatives to lend their support for passage.

Respectfully,
Marc Goldstone, Chair.
www.ArizonaTaxRevolt.org