Arizona Adds Property Requiring Assessor to Determine Property Tax Limited Property Value

The Arizona Governor signed a law concerning property taxation. The law adds properties, that previously qualified for a property valuation protection option or a statutory valuation and no longer qualify, to the circumstances that require the county assessor to determine the property’s limited property value at a level or percentage of full cash value that is comparable to other properties of the same or similar use or classification. The law takes effect 91 days after the end of the legislative session. [S.B. 1224, enacted 05/02/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.