SB1095 amends the Arizona Revised Statutes concerning the valuation of golf courses for property tax purposes. The bill requires golf course owners to refile a deed restriction with the county assessor when the property is split or combined, ensuring the property remains restricted for use as a golf course for at least ten years. Additionally, the bill defines "converted to a different use" as a violation of the statutory requirements for property tax valuation as a golf course or the removal, expiration without replacement, or violation of the property's deed restriction.

The bill also mandates that golf course owners must notify the county assessor within 30 days if any part of the property is converted to a different use. Upon receipt of such notice or discovery by the county assessor, a penalty equal to the difference between the taxes that would have been levied if the property had not been valued as a golf course and the actual taxes paid will be added to the tax levied against the property. The county assessor is required to provide electronic acknowledgment of receipt if electronic filings are accepted. The changes aim to ensure that golf courses maintain their designated use to receive favorable tax valuation and to enforce penalties for any conversion to a different use.

Statutes affected:
Introduced Version: 42-13154
Senate Engrossed Version: 42-13154
Chaptered Version: 42-13154