Arizona Laws 42-13055. Reducing minimum value for property in use
Current as of: 2023 | Check for updates
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A. Beginning in valuation year 2000, the department shall reduce the minimum value prescribed for class one, paragraphs 8, 9, 10 and 13 and class two (P) valued by the assessor by 2.5 per cent good each year.
Terms Used In Arizona Laws 42-13055
- Department: means the department of revenue. See Arizona Laws 42-1001
- Property: includes both real and personal property. See Arizona Laws 1-215
- Valuation: means the full cash value or limited property value that is determined for real or personal property, as applicable. See Arizona Laws 42-11001
B. This section does not require the department to reduce the minimum value for any property in use below 2.5 per cent good.