Arizona SB1764 amends property tax definitions, clarifying terms like "assessed valuation" and "full cash value.

Arizona SB1764 amends the definitions related to property tax in the Arizona Revised Statutes. It clarifies terms such as "assessed valuation," "full cash value," and "current use." The bill specifies that the county assessor may consider market influences for non-residential properties and defines "current use" as the primary use of the property based on objectively verifiable conditions. It also distinguishes between "primary property taxes" and "secondary property taxes," and sets out the valuation date and year for property taxes.

Arizona SB1764 amends property tax definitions, clarifying terms like "assessed valuation" and "full cash value.

Arizona SB1764 amends the definitions related to property tax in the Arizona Revised Statutes. It clarifies terms such as "assessed valuation," "full cash value," and "current use." The bill specifies that the county assessor may consider market influences for non-residential properties and defines "current use" as the primary use of the property based on objectively verifiable conditions. It also distinguishes between "primary property taxes" and "secondary property taxes," and sets out the valuation date and year for property taxes.