KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Arizona

HB2357 • 2026

class one property; assessment ratio

HB2357 - class one property; assessment ratio

Taxes
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Quantá Crews, Cesar Aguilar, Sarah Liguori, Stacey Travers, Betty J Villegas
Last action
2026-01-21
Official status
House second read
Effective date
Not listed

Plain English Breakdown

Checked against official source text during the last sync.

Class One Property Assessment Ratio

This bill changes the assessment ratio for class one property in Arizona.

What This Bill Does

  • Changes the percentage of full cash value used to assess class one property starting from December 31, 2026.
  • Sets the new assessment ratio at twenty percent instead of fifteen and a half percent after December 31, 2026.
  • Increases the assessment ratio again to twenty-eight percent beginning on January 1, 2028.

Who It Names or Affects

  • Property owners with class one property in Arizona.

Terms To Know

Class One Property
A specific category of property as defined by Arizona law for tax assessment purposes.
Assessment Ratio
The percentage used to calculate the assessed value of a property based on its full cash value or limited valuation.

Limits and Unknowns

  • Does not specify what happens after January 1, 2028.
  • Does not provide details about how this change will affect property taxes for class one property owners.

Bill History

  1. 2026-01-21 House

    House second read

  2. 2026-01-20 House

    House Rules: None

  3. 2026-01-20 House

    House Ways & Means: None

  4. 2026-01-20 House

    House first read

Official Summary Text

HB2357 - class one property; assessment ratio

Current Bill Text

Read the full stored bill text 
HB2357 - 572R - I Ver

REFERENCE TITLE:
class one property; assessment ratio

State of Arizona

House of Representatives

Fifty-seventh Legislature

Second Regular Session

2026

HB 2357

Introduced by

Representatives
Crews: Aguilar, Liguori, Travers, Villegas

AN
ACT

amending section 42-15001, Arizona
Revised Statutes; relating to property tax assessed valuations.

(TEXT OF BILL BEGINS ON NEXT PAGE)

Be it enacted by the Legislature of the State of Arizona:

Section 1. Section 42-15001, Arizona Revised
Statutes, is amended to read:

START_STATUTE
42-15001.
Assessed valuation of class one property

The assessed valuation of class one property described in
section 42-12001 is the following percentage of its full cash value or
limited valuation, as applicable:

1. Twenty-five percent through December 31,
2005.

2. Twenty-four and one-half percent
beginning from and after December 31, 2005 through December 31, 2006.

3. Twenty-four percent beginning from and
after December 31, 2006 through December 31, 2007.

4. Twenty-three percent beginning from and
after December 31, 2007 through December 31, 2008.

5. Twenty-two percent beginning from and after
December 31, 2008 through December 31, 2009.

6. Twenty-one percent beginning from and after
December 31, 2009 through December 31, 2010.

7. Twenty percent beginning from and after December
31, 2010 through December 31, 2012.

8. Nineteen and one-half percent beginning
from and after December 31, 2012 through December 31, 2013.

9. Nineteen percent beginning from and after
December 31, 2013 through December 31, 2014.

10. Eighteen and one-half percent beginning
from and after December 31, 2014 through December 31, 2015.

11. Eighteen percent beginning from and after
December 31, 2015 through December 31, 2021.

12. Seventeen and one-half percent beginning
from and after December 31, 2021 through December 31, 2022.

13. Seventeen percent beginning from and after
December 31, 2022 through December 31, 2023.

14. Sixteen and one-half percent beginning
from and after December 31, 2023 through December 31, 2024.

15. Sixteen percent beginning from and after
December 31, 2024 through December 31, 2025.

16. Fifteen and one-half percent beginning
from and after December 31, 2025 through December 31, 2026.

17.
Fifteen

twenty

percent beginning from and after December 31, 2026

through December 31, 2027
.

18. Twenty-eight percent
beginning from and after December 31, 2027.

END_STATUTE