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 of conservation easements.

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. As a result, the current law remains intact while enhancing the framework for assessing conservation easements, thereby potentially improving the accuracy and fairness of property valuations in this context.

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