(State Capitol, Phoenix) – The Arizona House today helped ensure homeowners in the state avoid a $250 million tax increase.

The House passed HB2220, which permanently repeals the statewide property tax.

Two years ago, the Legislature suspended the property tax for three years. The tax reappears if the Legislature takes no action this year. The bill, sponsored by House Speaker Jim Weiers, now moves to the Senate.

“While this bill helps our struggling economy by eliminating the tax on businesses, it is also for the small guy – by keeping Arizona families in their homes,” Weiers, R-Phoenix, said. “I do not want to see our homeowners burdened by this massive tax increase.”

Without action, property owners will see the tax return in January. At a time when foreclosures in Arizona are skyrocketing, this bill brings a little relief, Weiers said.

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