State Tax Laws > Property Taxes > Arizona (Summary)
Tax Type: Reduction in FMV and Severance Tax
Description: 25% of full cash value or limited valuation, as applicable
Objective:
A. The classes of property are established by this article for the common treatment of the property in each class for purposes of the assignment of a common assessment percentage under chapter 15, article 1 of this title and other purposes prescribed by statute, but the statutory classes under this article are not considered to constitute classes of property for purposes of article IX, section 1, Constitution of Arizona.
B. The valuation of properties in individual subclasses established by this article shall be determined in the distinct manner prescribed by law for each subclass in compliance with article IX, section 1, Constitution of Arizona.
Forest Tax Program Requirements
Min/Max Acreage: N/A
Min. Stocking Growth: N/A
Forest Management Plan: N/A
Duration of Enrollment: N/A
Penalties for Use Change: N/A
Program Administration
State: State Department of Revenue administers rules.
County Tax Assessor and Commissioner: Determining the valuation of property
University: N/A
Landowner: N/A
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