Personal Property Manual - AZDOR

Personal Property Manual

Personal Property Manual

Preface

Preface

Arizona law provides authority for the identification, classification, valuation, and assessment of personal property. These duties are administered jointly by the Arizona Department of Revenue (Department or DOR) and the 15 county assessors. The 2020 PERSONAL PROPERTY MANUAL contains information to assist these personnel to prepare annual valuations and assessments of locally assessed personal property. This Manual is not intended for use in the valuation and assessment of centrally valued personal property.

In 2018, the Department Manuals Team deployed a major project to update all manuals and guidelines produced by the Property Tax Unit of the Local Jurisdictions District. The following definitions were incorporated as intrinsic project elements:

Review: Manual conforms to standard style and formatting. Legislative and other

citations verified. No changes to content, methodology, policy, or practice.

Revision: Includes all Review processes. Manual is newly edited. Nonsubstantive

legislative changes incorporated. Addition or deletion of information that does not alter valuation methodology.

Rewrite: Includes applicable Review processes. Major substantive changes made

to any combination of content, valuation methodology, policy, and/or practice.

This Manual is a Revision of the 2019 PERSONAL PROPERTY MANUAL issued by the Department on January 1, 2019, and supersedes all previous personal property manuals issued by the Department. This Manual remains effective until revised or replaced. Additional information may be issued as an addendum to this Manual or as a separate guideline document. Due to varying county deadlines and policies, the Department recommends contacting your county assessor for detailed information regarding the personal property valuation and assessment process. Should any content in this Manual conflict with current law, the latter shall be controlling.

Arizona Department of Revenue

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Personal Property Manual

Preface

All inquiries, comments, and suggestions concerning specific material in this Manual may be submitted to the following:

Arizona Department of Revenue Local Jurisdictions District Personal Property Unit 1600 West Monroe Street Phoenix, AZ 85007-2650 Phone: 602-716-6843 Email: personalpropertyunit@

The 2020 PERSONAL PROPERTY MANUAL can be viewed on the Department's website at:

Arizona Department of Revenue

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Personal Property Manual

Quick Reference

Quick Reference

Exemption and Assessment Ratios 2020 Business Personal Property Exemption

$185,811

2020 Assessment Ratio for Property Class One

18%

2020 Assessment Ratio for Property Class Two

15%

2020 Assessment Ratio for Property Class Six

5%

Legislative Changes to Arizona Revised Statutes (A.R.S.)

HB 2097

amends A.R.S.

42-15053

HB 2493

amends A.R.S.

42-11054

adds

A.R.S.

42-13056

HB 2556

amends A.R.S.

3-111, 11-812, and 42-12151

SB 1235

adds

A.R.S.

42-15301 through 42-15305

repeals

A.R.S.

42-19116

SB 1248

amends A.R.S.

42-13302

Arizona Department of Revenue

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