Proposed Amendment to the Constitution by the Legislature Relating to Property Tax Exemptions

Arizona Ballot Measure - Proposition 116

Election: Nov. 6, 2012 (General)
Outcome: Failed

Yes: 852981  (43.92%) Argument For
No: 1089294  (56.08%) Argument Against

Categories:

Measure Text

Sets 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 "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.