AZ SB1431

Creates a new property tax classification (Class Nine) for primary residences owned by veterans with 100% service-connected disabilities rated by the U.S. Department of Veterans Affairs, or by unmarried surviving spouses of veterans killed in action or who died from service-related injuries.

Allows qualifying veterans' residences to include up to 10 acres, or up to 40 acres if zoned exclusively for residential purposes or subject to legal restrictions preventing division.

Extends property tax verification and civil penalty procedures under section 42-12052 to Class Nine properties, requiring county assessors to verify primary residence status and assess penalties for misclassification.

Modifies assessment notice requirements to include separate disclosure of land and improvement values for Class Nine properties, and requires notices to inform owners of Class Nine eligibility requirements and potential civil penalties.

Permits veterans with 100% disabilities to petition for reclassification of purchased property from other classes to Class Nine property effective from the date of occupancy.