Arizona SB1224 amends property valuation rules for modified, omitted, or changed properties.
Arizona SB1224 amends property valuation rules to establish limited property value for properties modified, omitted, or changed since the preceding tax year. This includes properties erroneously omitted from tax rolls, those with a change in use, or those modified by construction, destruction, or demolition. The bill specifies that a change in the occupant or classification of a single-family residence does not constitute a change in use. The limited property value is set at a level comparable to similar properties.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.