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 utilize 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 appraisal process for conservation easements.

The bill does not delete any existing language from the current statutes but adds this new provision to enhance the clarity and methodology used in assessing conservation easements. The changes would take effect on the general effective date, thereby updating the legal framework governing the valuation of these properties without altering the existing classifications or assessment percentages.

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