Tag Archives: Prop 117

AZ Prop 117: Limiting Property Valuation Assessments

Proposition 117 would amend the State Constitution to limit the amount by which the assessed value of real property can be increased from one year to the next. It was proposed by the Legislature to replace the current valuation method, which uses two values—one uncapped and one capped at a higher percentage than the new proposal.  Specifically, this proposal would cap increases in property valuation at 5% annually. Continue reading AZ Prop 117: Limiting Property Valuation Assessments