HB 2439 Summary

• Replaces terminology throughout Arizona property tax law by changing "valuation" to "full cash value" in statutes governing property assessment and taxation procedures.

• Clarifies that assessed valuation is derived by applying assessment ratios to either full cash value or limited property value, as applicable to the property type.

• Modifies language in sections governing property tax appeals, county board corrections, and court proceedings to consistently use "full cash value" instead of "valuation."

• Updates definitions and procedures in statutes addressing historic property valuation, shopping center income method appeals, manufacturing property valuation, and mobile home assessment.

• Makes conforming changes to terminology in multiple sections (42-11001, 42-11053, 42-11054, 42-12009, 42-12104, 42-12157, 42-13204, 42-13205, 42-13352, 42-16051, 42-16109, 42-16207, 42-16212, 42-16213, 42-16215, 42-16251, 42-16252, and 42-19152) to standardize property tax valuation language.