Arizona Laws 42-15253. Computing amount of taxes otherwise payable on remote municipal property
A. On or before the third Thursday in August, the county board of supervisors shall compute and report to the city, town or political subdivision the amount of property taxes that would otherwise be payable on the city’s, town’s or political subdivision’s remote municipal property by:
Terms Used In Arizona Laws 42-15253
- 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
- County board: means the county board of supervisors sitting as the county board of equalization. See Arizona Laws 42-11001
- Property: includes both real and personal property. See Arizona Laws 1-215
- remote municipal property: means either:
1. See Arizona Laws 42-15251
- 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. Multiplying the combined total primary property tax rates of the political subdivisions in which the property is located by the assessed valuation of the property.
2. Multiplying the combined total secondary property tax rates of the political subdivisions in which the property is located by the assessed valuation of the property.
B. The sum of the primary and secondary taxes so computed is the amount of property taxes otherwise payable on the remote municipal property.