Arizona Laws 42-15103. Contents of notice form
Terms Used In Arizona Laws 42-15103
- 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
(L12, Ch. 350, sec. 5. Eff. until 1/1/25)
The notice form shall:
1. Prominently display a statement for all residential properties:
(a) Which defines class three properties as described in section 42-12003.
(b) Informing property owners that if the property listed on the notice does not meet the definition provided pursuant to subdivision (a) of this section, the owner must notify the county assessor of the usage of the property or they may be subject to a civil penalty prescribed by section 42-12052.
2. Include simplified instructions on the procedure and deadlines for appealing the assessed valuation shown on the notice.
3. Prominently display a statement informing owners of property that is used for residential rental purposes that:
(a) The parcel must be listed on the notice as class four, and the owner must register the residential rental property with the county assessor pursuant to section 33-1902 or the owner may be subject to a penalty.
(b) If the owner is required to register the rental property with the county assessor and fails to do so after receipt of this notice, the city or town may impose a civil penalty payable to the city or town in the amount of one hundred fifty dollars per day for each day of violation, and the city or town may impose enhanced inspection and enforcement measures on the property.
(c) If the city or town in which the property is located requires the lessor to pay transaction privilege tax on residential rent, a notice of applicable requirements imposed by the city or town and that failure to pay the applicable tax could result in a penalty or fine by the city or town.
(d) Residential rental properties are required to comply with the landlord tenant law pursuant to title 33, chapters 10 and 11.