The proposed bill seeks to update current statutes related to the establishment and modification of special taxing districts in Arizona by clarifying definitions and processes. It introduces the terms "real and personal property" to ensure that both types are included in the district formation process. Additionally, it specifies that "valuation" refers to the "total limited assessed valuation" as determined by the county assessor, and outlines that the "assessed value" for district creation and boundary changes will be based on full cash value for properties assessed by the Arizona Department of Revenue and limited property value for those assessed by the county assessor, unless stated otherwise by law.

Furthermore, the bill makes several deletions to streamline existing language, such as replacing "permit" with "allow" regarding property owners' rights in district determination. It also clarifies that properties held in multiple ownership will be treated as a single owner for petition signatures and that assessed valuations will remain fixed despite ownership changes. These updates aim to enhance clarity and efficiency in the administrative processes surrounding special taxing districts, ensuring that all relevant property types are adequately addressed.

Statutes affected:
Introduced Version: 48-261, 48-262, 48-266, 42-17052, 48-851, 48-2001, 48-2002, 9-471
Senate Engrossed Version: 48-261, 48-261.01, 48-262, 48-266, 42-17052, 48-851, 48-2001, 48-2002, 9-471
Chaptered Version: 48-261, 48-261.01, 48-262, 48-266, 42-17052, 48-851, 48-2001, 48-2002, 9-471