AZ HB2535

Amends A.R.S. Section 42-11054 to clarify that solar energy devices, grid-tied photovoltaic systems, and other solar energy devices designed for on-site consumption by the owner have no value and add no value to property for tax assessment purposes.

Extends the no-value provision to renewable energy equipment (wind, geothermal, hydropower, biogas, biomass, forest thinnings, and agricultural waste) when such equipment is designed for on-site consumption by the owner.

Maintains existing requirements that property owners provide county assessors with documentation of acquisition and installation costs for energy efficient building components and renewable energy equipment within specified timeframes to qualify for no-value treatment.

Does not change the existing process for legislative oversight, requiring the Department of Revenue to submit substantive appraisal guidelines to the Joint Legislative Oversight Committee on Property Tax Assessment and Appeals before adoption.