AZ HB2299

Amends Arizona Revised Statutes section 42-12006 to add a new category (paragraph 9) of class six property for property tax classification purposes.

Establishes class six property classification for real and personal property used as an owner's primary residence, owned by individuals who qualify for property valuation protection under Arizona Constitution Article IX, section 18, subsection (7), and valued at full cash value.

Requires that to qualify, the individual owner cannot own or have any legal, equitable, beneficial, or security interest in any other real property anywhere, except indirectly through investment securities like mutual funds.

Allows the homesite to include up to 10 acres on a single parcel where the residential improvement is located, or more than 10 but not more than 40 acres if the parcel is zoned exclusively for residential purposes or contains legal restrictions or physical conditions preventing division.