Shown verbatim: the complete text as captured from the official page posted by the Arizona Legislature, fetched 2026-08-28. Where this bill amends existing law, language marked for deletion in the official page appears here in brackets. This is the chaptered version. The official bill page.
Senate Engrossed property tax assessment; destroyed property State of Arizona Senate Fifty-seventh Legislature Second Regular Session 2026 SENATE BILL 1294 AN ACT amending section 42-15157, Arizona Revised Statutes; relating to property tax assessment. (TEXT OF BILL BEGINS ON NEXT PAGE) Be it enacted by the Legislature of the State of Arizona: Section 1. Section 42-15157, Arizona Revised Statutes, is amended to read: START_STATUTE42-15157. Destruction of property after rolls closed; proration of valuation and taxes A. If a property is destroyed after the county assessor closes the rolls, the property owner may file a notice of claim pursuant to section 42-16254 or the county assessor may issue a notice of proposed correction pursuant to section 42-16252 to prorate the valuation of the property from the date of destruction. B. If the county assessor finds that the property has been destroyed: 1. The county assessor shall prorate the value of the property from the lien date to the date of destruction. [2. For the purposes of classifying property under chapter 12, article 1 of this title, the county assessor may maintain the property classification in place on the date of destruction for a period of five years or until an objectively verifiable change in use occurs, whichever is sooner.] [3.] 2. The county assessor shall notify the property owner of the property assessment pursuant to the applicable notice requirements provided in this chapter or chapter 16 of this title. [4.] 3. The county treasurer shall compute the amount of taxes assessed against the property by applying the tax rate for the appropriate tax year to the original valuation prorated for the portion of the year the property was intact, plus the tax rate for the appropriate tax year to the reassessed value of the property prorated for the balance of the year. [C. For the purposes of this section, "destroyed" means physical destruction caused by a verifiable accident, including fire, flood or any other act of God.] C. If the county assessor finds that a property has been destroyed by a verifiable accident, including fire, flood or any other act of god, the county assessor may maintain the property classification in place on the date the property is destroyed for a period of five years or until an objectively verifiable change in use occurs, whichever is earlier. END_STATUTE Sec. 2. Retroactivity This act applies retroactively to from and after September 13, 2024.
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