Arizona Revised Statutes Title 42 — Taxation
A.R.S. § 42-13205
Valuation method applied on appeal
42-13205 . Valuation method applied on appeal On appeal of a valuation determined by the income method pursuant to section 42-13204 or an appeal in which the owner has elected the income method pursuant to section 42-13203, subsection D, the valuation of a shopping center shall be determined by whichever one of the following valuation methods most closely approximates fair market value:
# 1.
The income method commonly known as the straight line building residual method pursuant to section 42-13203, subsection D. If the reviewing body finds that other information that is customarily analyzed under the income method must be used to properly apply the income method to the property, it may use the other information to supplement information provided by the owner if:
# (a)
The credible and accurate information provided by the owner remains the primary basis for the valuation under the income method.
# (b)
The supplementary information is credible, is derived from properties or circumstances that are substantially comparable to the property and is valid under the income method.
# (c)
The reviewing body specifies in its written order what other information was considered, the manner in which it was applied and the change in the valuation under the income method, if any, resulting from the use of the supplementary information.
# 2.
The replacement cost less depreciation method pursuant to section 42-13203.
# 3.
The market comparison method, if a sale of the subject property occurred within two years before the date of valuation and no material change to the property, its lease terms, tenants or occupancy rates or any other material fact has occurred since the sale. If the market comparison method is applicable, the reviewing body may consider information on sales of other properties that occurred within two years before the date of valuation and that are determined to be comparable to the subject property by clear and convincing evidence.
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In this chapter (40 sections)
- 42-13003 · Report on property that has not been appraised
- 42-13004 · Data processing equipment and systems
- 42-13005 · Sales-ratio studies
- 42-13006 · Qualifications of appraisers and assessing personnel;…
- 42-13007 · Education, training and certification advisory committee
- 42-13051 · Duties of county assessor
- 42-13052 · Continuing valuation of class two, three and four property
- 42-13053 · Exception list; review of valuation
- 42-13054 · Taxable value of personal property; depreciated values of…
- 42-13055 · Reducing minimum value for property in use
- 42-13056 · Taxable value of solar energy devices classified as personal…
- 42-13101 · Valuation of agricultural land
- 42-13102 · Statement of agricultural lease
- 42-13151 · Definition of golf course
- 42-13152 · Computing valuation of golf courses
- 42-13154 · Covenant not to convert golf course to another use; notice;…
- 42-13201 · Definition of shopping center
- 42-13202 · Exclusive method and procedure for valuing shopping centers;…
- 42-13203 · Replacement cost less depreciation method of valuing…
- 42-13204 · Election to use income method of valuation initially
- 42-13205 · Valuation method applied on appeal
- 42-13206 · Valuation of dedicated parking or common areas
- 42-13251 · Equalization of valuations by department
- 42-13252 · Scope of equalization
- 42-13253 · Notice of equalization order
- 42-13254 · Date of issue; effective date
- 42-13255 · Appeal
- 42-13256 · Adjustments of equalized property values by assessor
- 42-13257 · Report to property tax oversight commission
- 42-13301 · Limited property value
- 42-13302 · Determining limited value in cases of modifications,…
- 42-13304 · Exemptions from limitation
- 42-13351 · Method and procedures for valuing property of manufacturers,…
- 42-13352 · Determining valuation of property of manufacturers,…
- 42-13353 · Depreciated values of personal property of manufacturers,…
- 42-13354 · Assessing personal property construction work in progress;…
- 42-13355 · Assessing clean rooms as personal property; definition
- 42-13401 · Exclusive method of identifying and valuing common areas
- 42-13402 · Identifying common areas; definition
- 42-13403 · Computing valuation