Property Tax Alert: Arizona

June 2005

The class one assessment ratio will be reduced from 25% to 20% over the next 10 years. The ratio will decrease at a fixed rate of 1/2 % per year. Class one includes commercial, industrial and mining property.

Also, the qualifying tax rate (QTR) and the county assistance for education rate (CAER) have been adjusted for fiscal year 2006. Specifically, the QTR for a common or high school district will be $1.8090, and the QTR for a unified school district will be $3.6180. The CAER for fiscal year 2006 will be $0.4358.

Finally, a board of supervisors for county jail districts and county juvenile detention facilities may impose a property tax levy for tax years 2006, 2007, and 2008. If imposed, the levy must equal the amount levied in tax year 2005.

Please contact Rash & Associates for more information.