HB 2552, more commonly known as equine agricultural property tax classification, reclassifies land used for breeding, raising, training or keeping horses as part of an animal rescue effort as agricultural land, effectively lowering owner’s property taxes. For decades, these operations were classified as agricultural properties under the property tax code. A recent movement by Arizona’s tax assessors, however, reclassified these types of land uses as commercial, effectively quadrupling their annual taxes.
The new law is intended to protect property taxpayers who have been historically treated one way but had their tax status changed even though their business did not. Arizona’s horsing industry generates over one billion dollars in state revenue and supports hundreds if not thousands of jobs statewide. I have fought to keep Arizona taxes low and ensure equity in treatment of small business. Lower taxes encourage business growth – Arizona needs jobs and economic development now more than ever, and I will keep working to ensure all Arizonans have a fair opportunity to succeed in business.
Please take a moment to read an article from the Arizona Republic HB2552 and the impacts it will have on Arizona. Read More Here