Terms Used In Arizona Laws > Title 42 > Chapter 13 > Article 3 - Valuation of Agricultural Property

• Department: means the department of revenue. See Arizona Laws 42-1001
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• Property: includes both real and personal property. See Arizona Laws 1-215
• Real estate: includes the ownership of, claim to, possession of or right of possession to lands or patented mines. See Arizona Laws 42-11001
• 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