The proposed bill would update current statutes concerning the establishment and modification of special taxing districts by clarifying definitions and procedures. Specifically, it would insert language to define "property" as encompassing both real and personal property, and would clarify that "valuation" refers to the total limited assessed valuation as determined by the county assessor. Additionally, the bill would establish that the "assessed value" for district-related purposes is the full cash value for properties assessed by the Arizona Department of Revenue and the limited property value for those assessed by the county assessor, unless otherwise specified by law. Moreover, the bill would make technical and conforming changes to enhance clarity, such as replacing "permit" with "allow" in descriptions of property boundaries and ensuring that assessed valuations include both types of properties. It would also introduce a new section, 48-261.01, detailing how assessed valuations are determined, and streamline the process for boundary changes by treating property held in multiple ownership as a single owner for petition purposes. Overall, these updates aim to improve the administrative processes related to special taxing districts while ensuring comprehensive consideration of all relevant property types.

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