42-12003 - Arizona Statutes

42-12003. Class three property; definition A. For purposes of taxation, class three is established consisting of real and personal property and improvements to the property that are used for residential purposes, that are not otherwise included in class one, two, four, six, seven or eight and that are valued at full cash value. The homesite that is included in class three may include: 1. Up to ten acres on a single parcel of real property on which the residential improvement is located. 2. More than ten, but not more than forty, acres on a single parcel of real property on which the residential improvement is located if it is zoned exclusively for residential purposes or contains legal restrictions or physical conditions that prevent the division of the parcel. B. For purposes of this section, "physical conditions" means topography, mountains, washes, rivers, roads or any other configuration that limits the residential usable land area.