Bill Text: AZ HB2700 | 2012 | Fiftieth Legislature 2nd Regular | Introduced

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Bill Title: Property tax valuation; residential; business

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2012-02-02 - Referred to House WM Committee [HB2700 Detail]

Download: Arizona-2012-HB2700-Introduced.html

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REFERENCE TITLE: property tax valuation; residential; business

 

 

 

State of Arizona

House of Representatives

Fiftieth Legislature

Second Regular Session

2012

 

 

HB 2700

 

Introduced by

Representative Chabin

 

 

AN ACT

 

RENUMBERING SECTION 42-12010, ARIZONA REVISED STATUTES, AS SECTION 42-12011; Amending Title 42, chapter 12, article 1, Arizona Revised Statutes, by adding a new section 42-12010; RENUMBERING SECTION 42-15010, ARIZONA REVISED STATUTES, AS SECTION 42-15011; Amending Title 42, chapter 15, article 1, Arizona Revised Statutes, by adding a new section 42-15010; relating to PROPERTY tax valuations.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Renumber

Section 42-12010, Arizona Revised Statutes, is renumbered as section 42‑12011.

Sec. 2.  Title 42, chapter 12, article 1, Arizona Revised Statutes, is amended by adding a new section 42-12010, to read:

START_STATUTE42-12010.  Class ten property

For purposes of taxation, class ten is established consisting of owner occupied property that is residentially zoned, is less than five acres, used as the owner's primary residence and That has a commercial operation on the property. END_STATUTE

Sec. 3.  Renumber

Section 42-15010, Arizona Revised Statutes, is renumbered as section 42‑15011.

Sec. 4.  Title 42, chapter 15, article 1, Arizona Revised Statutes, is amended by adding a new section 42-15010, to read:

START_STATUTE42-15010.  Assessed valuation of class ten property

The assessed valuation of class ten property described in section 42‑12010 is at least ten per cent but not more than twelve and one-half per cent of its full cash value or limited valuation, as applicable.  The county assessor shall determine the appropriate percentage under this section based on the actual land use of the property. END_STATUTE