The proposed bill would amend several sections of the Arizona Revised Statutes to redefine and clarify the classification of agricultural real property. Specifically, it would update the definition of Class Two property to explicitly include "agricultural real property" and change the terminology throughout the relevant statutes to reflect this new classification. The article heading of Title 42, Chapter 12, Article 4 would be renamed from "Agricultural Property Classification" to "Agricultural Real Property Classification," ensuring consistency in terminology across the statutes.

Additionally, the bill would make various conforming changes to existing language, such as replacing terms like "used for agricultural purposes" with "used as agricultural real property." It would also clarify the valuation process for agricultural real property, emphasizing that it should be valued using the income approach without considering urban influences. The bill aims to streamline the classification and assessment processes for agricultural properties, ensuring that they are accurately represented in the tax system.

Statutes affected:
Introduced Version: 42-12002, 42-12004, 42-12051, 42-12152, 42-12153, 42-12154, 42-12155, 42-12156, 42-12157, 42-12158, 42-12159, 42-13101, 42-13102, 42-15252, 32-2197, 41-867, 42-16001, 42-12151