April 8, 2021, 5:00 a.m.
The governor of Arizona signed a bill on April 6th to evaluate and evaluate the real and personal property of guest farms as class 2 real estate for property tax purposes. The law contains measures: 1) Establishing a 15 percent valuation ratio for class 2 properties; 2) Clarification that the owner of a gas ranch must record a record restriction with the county recorder and submit a copy to the county assessor as a condition for grade two assessment; 3) Establishing the application to restrict the document for 10 years; and 4) determining the tax procedure when a property is moved to another …
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