42-15065. Assessing personal property construction work in progress; definition
101 words·~1 min read·
/az/title-42/42-15065A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The county assessor shall not:
1. Value or assess personal property construction work in progress until the construction work has progressed to a sufficient degree for the personal property to be useful for the purpose for which it is being constructed.
2. Place personal property construction work in progress on the roll unless it is valued by the department as provided by law.
B. For purposes of this section, "personal property construction work in progress" means the amount spent and entered on the taxpayer's accounting records as of December 31 of the preceding calendar year as construction work in progress.