2005 Arizona Revised Statutes - Revised Statutes §42-11104 Exemption for education and library property
A. Libraries, colleges, school buildings and other buildings that are used for education, with their furniture, libraries and equipment and the land that is appurtenant to and used with them, are exempt from taxation if they are used for education and not used or held for profit.
B. Property and buildings are exempt from taxation if leased from:
1. A school district pursuant to a lease or lease-purchase agreement under section 15-342, paragraph 9 or 10.
2. A community college district pursuant to a lease or lease-purchase agreement under section 15-1444.
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