Grand Canyon Times

Following the Senate's approval of SB 1069, which proposes an increase in Arizona's business personal property tax exemption to $500,000, NFIB State Director Chad Heinrich has urged the House to offer substantial tax relief for small business owners in the state.

Heinrich stated, "While the Legislature has taken great strides to reform our state’s tax code, Arizona’s small business owners still shoulder an inequitable portion of the property tax burden. Raising the business personal property tax exemption to $500,000 will give Main Street Arizonans more resources to invest in their businesses, create new jobs, and expand employee benefits."

The bill's passage is seen as a step towards easing the financial load on small businesses. Heinrich expressed gratitude towards Sen. J.D. Mesnard for advocating this reform and acknowledged the support from Senate colleagues. He also called upon the House for prompt action.