The valuation of flight property and small flight property of airline companies operating in this state shall be determined annually by the department in the manner prescribed by this article.

Terms Used In Arizona Laws 42-14252

  • Department: means the department of revenue. See Arizona Laws 42-1001
  • Flight property: means all airline company aircraft of the types used in this state except aircraft that are permanently removed from operations. See Arizona Laws 42-14251
  • Small flight property: means all airline company aircraft of the types that are used in this state, not permanently removed from operations, with a maximum passenger capacity of less than fifty-six seats and a maximum payload capacity of less than eighteen thousand pounds. See Arizona Laws 42-14251
  • 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