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Personal Property Manual Personal Property Manual Personal Property Manual Preface Preface Arizona law provides authority for the identification, classification, valuation, and assessment of personal property. These duties are administered jointly by the Arizona Department of Revenue (Department or DOR) and the 15 county assessors. The 2021 P ERSONAL P ROPERTY M ANUAL contains information to assist these personnel to prepare annual valuations and assessments of locally assessed personal property. This Manual is not intended for use in the valuation and assessment of centrally valued personal property. In 2018, the Department Manuals Team undertook a major project to update all manuals and guidelines produced by the Property Tax Unit. The following three levels of updates were to be applied, dependent upon the perceived need: Review: Manual or guideline conforms to standard style and formatting. Legislative and other citations verified. No changes to content, methodology, policy, or practice. Revision: Includes applicable Review processes. Manual or guideline is newly edited. Nonsubstantive legislative changes incorporated. Addition or deletion of information that does not alter valuation methodology. Rewrite: Includes applicable Review and Revision processes. Major substantive changes made to any combination of content, valuation methodology, policy, or practice. This Manual is a Revision of the 2020 P ERSONAL P ROPERTY M ANUAL and supersedes all previous personal property manuals issued by the Department. This Manual was published in January 2021, and remains effective until revised or replaced. Additional information may be issued as an addendum to this Manual or as a separate guideline. Due to the flexibility provided for in statute, deadlines and procedures may vary from county to county across the state. The Department recommends contacting your county assessor for detailed information regarding the deadlines and procedures in their Arizona Department of Revenue 1 | Page Personal Property Manual Preface jurisdiction. The information in this Manual is based upon laws and rules in effect at the time of publication. Should any content in this Manual conflict with current laws or rules, the latter shall be controlling. All inquiries, comments, and suggestions concerning the material in this Manual may be submitted to the following: Arizona Department of Revenue Local Jurisdictions District Property Tax Unit 1600 West Monroe Street Phoenix, AZ 85007-2650 (602) 716-6843 [email protected] The 2021 P ERSONAL P ROPERTY M ANUAL can be viewed on the Department’s website at: http://www.azdor.gov/sites/default/files/media/PROPERTY_pp-manual.pdf Arizona Department of Revenue 2 | Page Personal Property Manual Quick Reference Quick Reference Exemption and Assessment Ratios 2021 Business Personal Property Exemption $195,878 2021 Assessment Ratio for Property Class One 18% 2021 Assessment Ratio for Property Class Two 15% 2021 Assessment Ratio for Property Class Six 5% Legislative Changes to Arizona Revised Statutes (A.R.S.) SB1099 - tax deeds land sales proceeds amends A.R.S. 42-18303 SB1113 - mortgaged property tax statements info amends A.R.S. 42-18054 SB1348 - tax corrections act of 2020 amends A.R.S. 42-13302 Arizona Department of Revenue 3 | Page Personal Property Manual Table of Contents Table of Contents P REFACE 1 Q UICK R EFERENCE 3 Exempon and Assessment Raos 3 Legislave Changes to Arizona Revised Statutes (A.R.S.) 3 T ABLE O F C ONTENTS 4 C HAPTER 1 10 P ERSONAL PR OPERTY OV ERVIEW 10 IN TRODUCTION 11 CL ASSES O F PR OPERTY A ND T HEIR AS SESSMENT R ATIOS 12 DI STINGUISHING BET WEEN R EAL A ND PER SONAL PR OPERTY 14 Annexaon 15 Use 15 Intent 16 EX AMPLES O F R EAL A ND PER SONAL PR OPERTY 16 C HAPTER 2 20 B USINESS PE RSONAL PR OPERTY 20 R EPORTING PER SONAL PR OPERTY 21 Overview 21 Reporng Excepon 22 Reporng Forms 22 Personal Property Discovery 23 R EPORTING SU MMARY 24 V ALUATION O F PER SONAL PR OPERTY 25 Acquision Cost 26 Arizona Department of Revenue 4 | Page Personal Property Manual Table of Contents Trending for Price Change 27 Life Years 28 Depreciaon 29 Valuaon Factors 29 Minimum Value 30 Adjustments for Excessive Depreciaon 31 Addional Statutory Depreciaon 33 Comprehensive Examples 34 Example A 35 Example B 36 Example C 37 Determining Assessed Value 38 Constuonal Exempon 38 Assessment Rao 39 SP ECIAL PR OPERTIES 39 Aircra 39 Animals — Exempt 40 Animals — Taxable 40 Artwork 41 Billboards 41 Cable Television 41 Cell Towers 42 Computer-Driven Equipment 42 Computers and Peripheral Equipment 43 Construcon Work in Progress 44 Disaster Recovery 45 Environmental Equipment 45 Arizona Department of Revenue 5 | Page Personal Property Manual Table of Contents High-Tech Dental Equipment 46 Improvements on Possessory Rights 46 Leased Equipment 47 Leased Equipment at Centrally Assessed Locaons 47 Leased or Owned Equipment — Nonoperang Property 48 Leasehold Improvements 48 Libraries — Commercial 49 Rebuild or Refurbishment 49 Security Systems 50 Semiconductor Manufacturing Equipment — Integrated Circuit 50 Signs (Other Than Billboards) 51 Solar Energy Devices 51 Spare Parts 51 Supplies 52 Tools, Molds, Dies, and Jigs 52 Used Equipment 53 Individual Items of Used Equipment 53 Used Equipment Acquired With Business 54 Vaults and Vault Doors 55 Vehicle Mounted Equipment 55 Video Tapes, Games, DVDs — Rental 56 Walk-in Coolers or Freezers 56 Watercra 57 Processing Returns by County Assessor 57 Exisng Account 57 New Account 58 P RORATION O F PER SONAL PR OPERTY TA XES 58 Arizona Department of Revenue 6 | Page Personal Property Manual Table of Contents A UDITING 59 A DDITIONAL C HARGES 60 C HAPTER 3 62 MA NUFACTURED H OUSING A ND M OBILE H OMES 62 IN TRODUCTION 63 TY PES O F M ANUFACTURED H OUSING A ND M OBILE HO MES 63 Manufactured Home 63 Mobile Home 63 Mobile Office 64 Park Model 64 Recreaonal Travel Trailer 64 Factory-Built Building 64 MO BILE H OME LO CATION A ND ID ENTIFICATION 65 EX EMPTIONS 67 Arizona Residency Status 67 Servicemembers Civil Relief Act of 2003 68 V ALUATION O F M OBILE HO MES 69 Square Foot Method 70 Factory List Price Method 71 Improvements 73 Examples of Improvements Valued Using Marshall & Swi Building Cost Data: 73 Examples of Addional Improvements to Mobile Homes Located on Private Land: 73 Examples of Household Personal Property (Exempt): 73 A DDITIONAL FA CTORS AF FECTING VA LUATION 74 Excessive Depreciaon 74 Assimilaon 74 Modernizaon 75 Arizona Department of Revenue 7 | Page Personal Property Manual Table of Contents Locaon 75 A SSESSMENT O F M OBILE HO MES 76 Selecon of Property Class 77 Mobile Homes in Property Classes One, Two, and Six 77 Addional Statutory Depreciaon 77 Personal Property Tax Exempon 77 Selecon of Tax Roll 78 Affidavit of Affixture — Land Owned By Homeowner 78 Affidavit of Affixture — Mobile Home Located on Leased Land 79 MO VING MO BILE H OMES 79 Mobile Home Property Tax Clearance (DOR Form 82504) 79 Sale of Land and Affixed Mobile Home 81 Sale and Relocaon of an Affixed Mobile Home 81 The Mobile Home Relocaon Fund 82 C HAPTER 4 83 AP PEALS PR OCESS 83 A PPEALS PR OCESS F OR PER SONAL PR OPERTY VA LUATION 84 A DMINISTRATIVE AP PEALS 85 Appeals to the County Assessor 85 Appeals to the County Board of Equalizaon 86 Appeals to the State Board of Equalizaon 87 Judicial Appeals 87 Noce of Appeal to the Tax Court 87 Small Claims Procedures in Tax Court 88 C HAPTER 5 89 C ORRECTION O F E RRORS 89 CO RRECTING PR OPERTY TA X ER RORS 90 Arizona Department of Revenue 8 | Page Personal Property Manual Table of Contents DEF INITION O F E RROR 90 TI ME L IMITATIONS 91 N OTICE O F PR OPOSED CO RRECTION 92 SEL F- R EPORTING O F PER SONAL PR OPERTY TA X E RROR 93 TA XPAYER N OTICE O F CL AIM 94 EV IDENCE TH AT M AY BE CO NSIDERED A T H EARINGS 95 C HAPTER 6 97 P ERSONAL PR OPERTY CA LENDAR, VA LUATION T ABLES IN DEX, A ND VA LUATION TA BLES 97 2021 Assessment Calendar 98 2021 Valuaon Tables Index 101 2021 V ALUATION TA BLES 118 Applicaon of Addional Depreciaon 118 Applicaon of Minimum Value 118 Applicaon of the Business Personal Property Exempon 119 Trending and Improvement Depreciaon 119 AP PENDIX A 142 GL OSSARY 142 AP PENDIX B 151 AF FIXTURE S TATUTE F OR MO BILE H OMES W ITHIN R ENTAL CO MMUNITIES 151 A FFIXING A M OBILE H OME I N A MO BILE H OME PA RK 152 AP PENDIX C 154 SA MPLE F ORMS 154 Arizona Department of Revenue 9 | Page Personal Property Manual Chapter 1 – Personal Property Overview Chapter 1 Personal Property Overview Arizona Department of Revenue 10 | Page Personal Property Manual Chapter 1 – Personal Property Overview Introduction Two types of property are commonly recognized: real and personal. With reference to the Arizona property tax system, use of the terms “real property” and “real estate” may overlap. The A.R.S. defines real estate as “the ownership of, claim to, possession of or 1 right of possession to lands or patented mines” and includes all improvements on or to the land. A.R.S. 42-11001(13). Personal property is defined by exception as all types of tangible and intangible property not included in the term real estate. A.R.S. 42-11001(10) . This Manual contains information specific to the valuation and assessment of locally assessed personal property. Personal property includes property used for commercial, industrial, residential, and agricultural purposes. It also includes certain improvements on possessory rights and certain leasehold improvements. Personal property is subject to property tax, except for specifically exempted property such as inventory of a manufacturer, wholesaler, or retailer, as well as livestock, personal household goods, and certain other items.
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