House of Representatives

HB 2554

property valuation; three-year period

Sponsor: Rep. Marsh, Cooley, May, Camarot, et al

DP	Committee on Ways and Meetings
X	Caucus and COW
	Third Read
	As Passed the House

***REVISED***

HB 2554 would allow the county assessor to value all locally assessed property, except agricultural and golf course land, on a 3-year cycle.

Current Status

HB 2554 passed the Ways and Means Committee unamended.

History

Currently, county assessors may only value class 2 (vacant land), class 3 (residential), and class 4 (rented residential) property on 3-year cycles. This bill would allow other locally assessed property, such as commercial and industrial property, to be valued on a 3-year cycle. According to the Maricopa County Assessor’s Office, the bill would save resources because over 25% of locally assessed property are subject to appeals each year.

Provisions

· Eliminates current statutory authority that allows 3-year valuations only on class 2 (vacant land), 3 (residential), and 4 (rented residential) property.

· Allows 3-year valuations on all locally assessed property except agricultural and golf course land.

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· 45th Legislature

· Second Regular Session 2 March 26, 2002

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