42-12101. Definitions In this article, unless the context otherwise requires: 1. " Commercial historic property" means real property that: (a) Meets the criteria for classification as class one, paragraph 12 pursuant to section 42-12001 or class four pursuant to section 42-12004, subsection A, paragraphs 2 through 9. (b) Is listed in the national register of […]
42-12102. Application for classification as historic property; period of classification A. An owner of property who desires that it be classified as historic property for purposes of taxation shall: 1. Apply to the county assessor on forms that are approved by the department. 2. Consent in writing to allow the state historic preservation officer to […]
42-12103. Review of application by state historic preservation officer; approval or denial A. The state historic preservation officer, with the assistance of the Arizona historical advisory commission, shall review the application and may view the premises. B. The state historic preservation officer shall notify the county assessor and the applicant of the approval or denial […]
42-12104. Valuation and assessment A. The county assessor shall determine the assessed valuation of historic property as provided by chapter 15, article 1 of this title. Each year that the property is classified and assessed as historic property the assessor shall enter on the rolls that the property is so assessed and may be subject […]
42-12105. Disqualification A. Property shall remain classified and assessed as noncommercial historic property until it becomes disqualified through either: 1. Notice by the taxpayer to the assessor to remove the assessment as noncommercial historic property. 2. Sale or transfer to an ownership that makes it exempt from property taxation. 3. Notification by the state historic […]
42-12106. Effect of changing circumstances A. A sale or transfer of historic property to a new owner or a transfer of historic property to a new owner by reason of the death of the former owner does not disqualify the property from assessment as historic property if the property continues to qualify as historic property […]
42-12107. Penalties A. If property that is classified as historic property becomes disqualified for that classification, a penalty shall be added to the tax levied against the property on the next tax roll equal to the lesser of: 1. Fifty per cent of the total amount by which property taxes on the property were reduced […]
42-12108. Reports A. If requested by the state historic preservation officer, an owner of historic property shall make an annual report as to the continued qualification of the property for classification as historic property. B. The state historic preservation officer may demand reports from owners of historic property as to the continued qualification of the […]
