This bill proposes to amend current statutes regarding the valuation of conservation easements in Arizona. Specifically, it introduces a new requirement that the Arizona Department of Revenue (ADOR) or a county assessor must use standard appraisal practices and techniques when determining the full cash value (FCV) of a conservation easement, unless a statutory formula takes precedence. This insertion aims to ensure a consistent and standardized approach to the valuation process.

The bill does not delete any existing language from the current statutes but adds this new provision as section F to the existing statute 33-272. The overall effect of this amendment would be to clarify and formalize the appraisal process for conservation easements, thereby potentially enhancing the accuracy and fairness of property assessments in this context.

Statutes affected:
Introduced Version: 33-272
Senate Engrossed Version: 33-272
Chaptered Version: 33-272