Arizona § 42-12003 - Class three property; definition
Full text of Arizona Arizona Revised Statutes § 42-12003 — Class three property; definition, with citation guidance and answers to common questions.
§ 42-12003. Class three property; definition
A. For the purposes of taxation, class three is established consisting of:
1. Real and personal property and improvements to the property that are used for residential purposes and is occupied by the owner as the owner's primary residence as described in section 42-12053, that are not otherwise included in class one, two, four, six, seven or eight and that are valued at full cash value.
2. Real and personal property that is used for residential purposes and occupied by a relative of the owner, as described in section 42-12053, as the relative's primary residence, that is not otherwise included in class one, two, four, six, seven or eight and that is valued at full cash value.
3. Real and personal property that is used for residential purposes and occupied by the owner as the owner's primary residence, as described in section 42-12053, who also uses the property for lease or rent to lodgers.
B. For the purposes of this section, a homesite that is included in class three may include:
1. Up to ten acres on a single parcel of real property on which the residential improvement is located.
2. More than ten, but not more than forty, acres on a single parcel of real property on which the residential improvement is located if it is zoned exclusively for residential purposes or contains legal restrictions or physical conditions that prevent the division of the parcel.
C. For the purposes of this section, "physical conditions" means topography, mountains, washes, rivers, roads or any other configuration that limits the residential usable land area.
Frequently Asked Questions About Arizona § 42-12003
What does Arizona Revised Statutes § 42-12003 cover?
Section 42-12003 ("Class three property; definition") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 42-12003?
A common citation format is "Arizona Revised Statutes § 42-12003" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 42-12003 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.