REFERENCE TITLE: property tax; fallowed property; classification

State of Arizona House of Representatives Fifty-fourth Legislature First Regular Session 2019

HB 2520

Introduced by Representatives Finchem: Blackman, Bolick, Fillmore, Grantham

 

AN ACT

 

Amending Title 42, chapter 12, article 1, Arizona Revised Statutes, by adding section 42-12011; amending Title 42, chapter 15, article 1, Arizona Revised Statutes, by adding section 42-15011; relating to property tax.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

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

Section 1.  Title 42, chapter 12, article 1, Arizona Revised Statutes, is amended by adding section 42-12011, to read:

START_STATUTE42-12011.  Class ten property

For the purposes of taxation, class ten is established consisting of real property and improvements to real property that are subject to a fallowing agreement with the Arizona department of agriculture or another political subdivision of this state that requires the real property to be fallow for a period of at least five years and that has been classified as class 2 (R) for agricultural purposes for at least ten years before the effective date of the fallowing agreement. END_STATUTE

Sec. 2.  Title 42, chapter 15, article 1, Arizona Revised Statutes, is amended by adding section 42-15011, to read:

START_STATUTE42-15011.  Assessed valuation of class ten property

The assessed valuation of class ten property described in section 42‑12011 is ten percent of its full cash value or limited valuation, as applicable. END_STATUTE