Arizona Laws 42-15002. Assessed valuation of class two property
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The following percentages apply to the full cash value or limited valuation, as applicable, as a basis for determining the assessed valuation of class two property described in section 42-12002:
Terms Used In Arizona Laws 42-15002
- Assessed valuation: means the value derived by applying the applicable percentage prescribed by chapter 15, article 1 of this title to the full cash value or limited property value of the property, as applicable. 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
1. Class two (R): sixteen percent through December 31, 2015 and fifteen percent beginning from and after December 31, 2015.
2. Class two (P): sixteen percent through December 31, 2015, and fifteen percent beginning from and after December 31, 2015, of the value exceeding the maximum amount of valuation of personal property that is exempt from taxation pursuant to section 42-11127.
3. Class two (C): fifteen percent.