AZ HB2597

Reduces the interest rate on delinquent property taxes from 16 percent to 10 percent per year simple interest.

Interest accrues from the time of delinquency until the tax is paid, with fractions of a month counted as whole months.

Exempts interest collection if the delinquency results from an error by the county assessor or county treasurer.

Exempts interest collection if the full year tax is paid on or before December 31 of the tax year, regardless of the payment schedule or tax amount.