Arizona Laws 42-13352. Determining valuation of property of manufacturers, assemblers or fabricators
Current as of: 2023 | Check for updates
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A. The county assessor shall determine the valuation of both real and personal property valued under this article.
Terms Used In Arizona Laws 42-13352
- Appraisal: A determination of property value.
- Department: means the department of revenue. See Arizona Laws 42-1001
- Personal property: All property that is not real property.
- Personal property: includes property of every kind, both tangible and intangible, that is not included as real estate. See Arizona Laws 42-11001
- 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. For purposes of determining the valuation of property valued under this article, the county assessor shall use standard appraisal methods and techniques as provided in section 42-11001, paragraph 6 and section 42-11054, except as otherwise provided in this article.
C. The taxable value of personal property is the result of acquisition costs less any appropriate depreciation as prescribed by the department. The taxable value shall not exceed the market value.