By Alia Beard Rau | The Arizona Republic
An Arizona group working to overhaul the state’s tax formula hopes the third time’s the charm.
Calling itself Prop 13 Arizona, the group is pushing for a tax system similar to the one California voters passed via Proposition 13 in 1978. It needs to collect 225,963 signatures from valid Arizona voters by July 7 to qualify for the November 2016 ballot. It failed to get the needed signatures in two prior attempts.
Prop 13 Arizona would cap the property-tax rate at 1 percent for residential property and 1.5 percent for commercial property, and limit propert-tax increases to no more than 2 percent per year.
