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

The source text for item 17 lists 'Fifteen' and then 'twenty percent', creating ambiguity about whether the rate is 15% or 20%. The summary reflects this uncertainty by noting the conflict rather than guessing.

HB2357: Changing the Assessment Ratio for Class One Property

This bill changes the percentage used to calculate property tax assessments on class one properties in Arizona, setting specific rates that begin after December 31, 2026.

What This Bill Does

Amends section 42-15001 of the Arizona Revised Statutes regarding assessed valuations for class one property.
Sets an assessment ratio of fifteen percent beginning from and after December 31, 2026 through December 31, 2027.
Sets an assessment ratio of twenty-eight percent beginning from and after December 31, 2027.

Who It Names or Affects

Owners of class one property as defined in section 42-12001.

Terms To Know

Class One Property: A category of real estate described in Arizona Revised Statutes section 42-12001.
Assessed Valuation: The value assigned to a property, calculated as a specific percentage of its full cash value or limited valuation for tax purposes.

Limits and Unknowns

The official text contains conflicting numbers ('Fifteen' and 'twenty') on the same line regarding the rate from late 2026 to late 2027, making the exact percentage unclear.
The bill does not specify an effective date for when these changes take legal effect.

Bill History

2026-01-21 House
House second read
2026-01-20 House
House Rules: None
2026-01-20 House
House Ways & Means: None
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