SB 1235 Summary

• Adds Article 7 to Title 42, Chapter 15 of Arizona Revised Statutes to establish procedures for assessing possessory improvements on government property.

• Defines "possessory improvement" as residential, commercial, and industrial buildings (and appurtenant structures) located on federal, state, county, or municipal property owned by nongovernmental possessors.

• Requires assessors to use standard appraisal methods and techniques to value possessory improvements, with limited property value calculated under Chapter 13, Article 7 and exempt from the personal property exemption.

• Treats possessory improvement ownership as sufficient security for tax payment and allows placement on the real property tax roll, with delinquent taxes subject to real property tax lien procedures.

• Repeals section 42-19116 of Arizona Revised Statutes and clarifies the new article does not alter ownership definitions or characteristics under applicable law.