Arizona Revised Statutes Title 42 — Taxation
A.R.S. § 42-13353
Depreciated values of personal property of manufacturers, assemblers and fabricators
42-13353 . Depreciated values of personal property of manufacturers, assemblers and fabricators A. Except as provided in subsection D and notwithstanding any other statute, the department shall adjust depreciation schedules for use by the assessors to determine the valuation of personal property valued under this article that was or is initially assessed during tax year 1994 through tax year 2007 as follows:
# 1.
For the first tax year of assessment, the assessor shall use thirty-five per cent of the scheduled depreciated value.
# 2.
For the second tax year of assessment, the assessor shall use fifty-one per cent of the scheduled depreciated value.
# 3.
For the third tax year of assessment, the assessor shall use sixty-seven per cent of the scheduled depreciated value.
# 4.
For the fourth tax year of assessment, the assessor shall use eighty-three per cent of the scheduled depreciated value.
# 5.
For the fifth and subsequent tax years of assessment, the assessor shall use the scheduled depreciated value as prescribed by the department's guidelines. B. Except as provided in subsection D and notwithstanding any other law, the department shall adjust depreciation schedules for use by the assessors to determine the valuation of personal property valued under this article that was or is initially assessed during tax year 2008 through tax year 2011 as follows: 1. For the first tax year of assessment, the assessor shall use thirty per cent of the scheduled depreciated value. 2. For the second tax year of assessment, the assessor shall use forty-six per cent of the scheduled depreciated value. 3. For the third tax year of assessment, the assessor shall use sixty-two per cent of the scheduled depreciated value. 4. For the fourth tax year of assessment, the assessor shall use seventy-eight per cent of the scheduled depreciated value. 5. For the fifth tax year of assessment, the assessor shall use ninety-four per cent of the scheduled depreciated value.
# 6.
For the sixth and subsequent tax years of assessment, the assessor shall use the scheduled depreciated value as prescribed in the department's guidelines. C. Except as provided in subsection D and notwithstanding any other law, the department shall adjust depreciation schedules for use by the assessors to determine the valuation of personal property valued under this article that was or is initially assessed during or after tax year 2012 as follows: 1. For the first tax year of assessment, the assessor shall use twenty-five per cent of the scheduled depreciated value. 2. For the second tax year of assessment, the assessor shall use forty-one per cent of the scheduled depreciated value. 3. For the third tax year of assessment, the assessor shall use fifty-seven per cent of the scheduled depreciated value. 4. For the fourth tax year of assessment, the assessor shall use seventy-three per cent of the scheduled depreciated value. 5. For the fifth tax year of assessment, the assessor shall use eighty-nine per cent of the scheduled depreciated value. 6. For the sixth and subsequent tax years of assessment, the assessor shall use the scheduled depreciated value as prescribed in the department's guidelines. D. The additional depreciation prescribed in this section shall not reduce the valuation below the minimum value prescribed by the department for property in use.
Source: view the official text
In this chapter (40 sections)
- 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
- 42-13404 · Deed restriction on common area use
- 42-13451 · Definitions
- 42-13452 · Computing valuation
- 42-13453 · Timeshare use form
- 42-13454 · Managing entity as agent of owner
- 42-13501 · Limit on valuation of real property with abandoned renewable…
- 42-13551 · Definition of guest ranch
- 42-13552 · Deed restriction on guest ranch use; covenants; violation;…
- 42-13601 · Definitions
- 42-13602 · Applicability of article; property
- 42-13603 · Valuation; income method; requirements; confidentiality;…
- 42-13604 · Required documentation
- 42-13605 · Appeals