Arizona moves to exempt virtual assets from property tax…Voter referendum slated for November
Summary
- The Arizona Legislature is reported to be advancing legislation to exclude virtual assets from the property tax base.
- S.B. 1044 and S.C.R. 1003 would exempt virtual assets from property tax, define them as a medium of exchange and a store of value, and move to hold a November voter referendum.
- Given Governor Katie Hobbs’ record of vetoing multiple Bitcoin- and virtual-asset-related bills, this is expected to be a variable in how the legislation is handled.
The Arizona Legislature is advancing a bill that would exclude virtual assets from the property-tax base, keeping the push for codification alive. A potential constitutional amendment via a voter referendum is also being discussed.
According to crypto-focused media outlet Decrypt on the 27th, the Arizona Senate Finance Committee passed Senate Bill 1044 (S.B. 1044) and Senate Concurrent Resolution 1003 (S.C.R. 1003) by 4–3 votes, respectively. Both measures were referred to the Senate Rules Committee.
S.C.R. 1003 centers on putting the matter to a voter referendum in November in order to enshrine in the state constitution provisions excluding virtual assets from property taxation. S.B. 1044 would exempt virtual assets from property tax under state law and define them as digital assets that function as a medium of exchange and a store of value.
However, Arizona continues to face a divergence in views with the governor over virtual-asset legislation. Governor Katie Hobbs previously vetoed a number of Bitcoin- and virtual-asset-related bills during the 2025 session, which could become a variable in the final process for this legislation as well.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
