42-15006 - Arizona Statutes

42-15006. Assessed valuation of class six property The assessed valuation of class six property described in section 42-12006 is based on the following percentages to the full cash value or limited valuation of class six property, as applicable: 1. Property described in section 42-12006, paragraphs 1, 2, 3, 5, 6, 7, 8 and 9, five per cent. 2. Property described in section 42-12006, paragraph 4: (a) For primary property tax purposes, five per cent. (b) Except as provided in subdivision (c), for secondary property tax purposes: (i) Twenty-five per cent through December 31, 2006. (ii) Twenty-four per cent beginning from and after December 31, 2006 through December 31, 2007. (iii) Twenty-three per cent beginning from and after December 31, 2007 through December 31, 2008. (iv) Twenty-two per cent beginning from and after December 31, 2008 through December 31, 2009. (v) Twenty-one per cent beginning from and after December 31, 2009 through December 31, 2010. (vi) Twenty per cent beginning from and after December 31, 2010. (c) If subdivision (b) is finally adjudicated to be invalid, for secondary property tax purposes, five per cent.