2015 Arizona Revised Statutes
Title 48 - Special Taxing Districts
§ 48-6655 Payments in lieu of property taxes

48-6655. Payments in lieu of property taxes

(Conditionally Rpld. Delayed Rpld.)

A. The property of the district is exempt from ad valorem property taxes pursuant to article IX, section 2, Constitution of Arizona.

B. In lieu of property taxes, the board:

1. May provide for voluntary payments of money to taxing jurisdictions in which the regional attraction venue is located, based on the valuation of the district's property in the venue as determined by the county assessor.

2. Shall provide for payments of money to taxing jurisdictions in which the district is located, based on the valuation of the district's property located outside the venue as determined by the county assessor.

C. On or before April 1, the board shall notify the county assessor of the county in which the property is located of its election respecting payments under subsection B. The assessor shall determine the assessed valuations according to the classifications and standard appraisal methods and techniques prescribed for the purposes of title 42, chapters 12 and 13.

D. The board shall make all payments under this section based on the levies of the respective taxing jurisdictions in which the property is located as shown on the tax roll. The board shall pay to the county treasurer one-half of the amount not later than the first Monday in November and the other one-half not later than the first Monday in May of the next year.

E. The board shall make any payments under this section from any unrestricted and unencumbered monies in the general fund. The payments are considered to be an operating expense of the district.