A.R.S. tit. 42 ch. 15 — Arizona Revised Statutes Title 42 Chapter 15 — Assessment Process

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 percent beginning from and after December 31, 2026. 42-15002. Assessed valuation of class two property The following percentages apply to the full cash value or limited valuation, as applicable, as a basis for determining the assessed valuation of class two property described in section 42-12002: 1. Class two (R): sixteen percent through December 31, 2015 and fifteen percent beginning from and after December 31, 2015. 2. Class two (P): sixteen percent through December 31, 2015, and fifteen percent beginning from and after December 31, 2015, of the value exceeding the maximum amount of valuation of personal property that is exempt from taxation pursuant to section 42-11127. 3. Class two (C): fifteen percent. 42-15003. Assessed valuation of class three property The assessed valuation of class three property described in section 42-12003 is ten per cent of its full cash value or limited valuation, as applicable. 42-15004. Assessed valuation of class four property The assessed valuation of class four property described in section 42-12004 is ten per cent of its full cash value or limited valuation, as applicable. 42-15005. Assessed valuation of class five property The director shall annually determine percentages to apply as a basis for determining the assessed valuation of class five property described in section 42-12005 equal to the ratios that the total net assessed valuation of all taxable property for primary and secondary tax purposes in class one and class six, paragraph 3 and personal property in class two bears to the total limited valuation used for primary tax purposes of such property, and that ratio shall be used for primary tax purposes as required by federal law. 42-15006. Assessed valuation of class six property The assessed valuation of class six property described in section 42-12006 is five per cent of the full cash value or limited valuation of class six property, as applicable. 42-15007. Assessed valuation of class seven property The assessed valuation of class seven property described in section 42-12007 is the percentage of value prescribed for class one property by section 42-15001, except that modifications intended to restore and rehabilitate the historic property as approved by the state historic preservation officer under section 42-12103 shall be assessed at one per cent for up to ten years. 42-15008. Assessed valuation of class eight property The assessed valuation of class eight property described in section 42-12008 is the percentage of value prescribed for class four property by section 42-15004, except that modifications intended to restore and rehabilitate the historic property as approved by the state historic preservation officer under section 42-12103 shall be assessed at one per cent for up to ten years. 42-15009. Assessed valuation of class nine property The assessed valuation of class nine property described in section 42-12009 is one per cent of its full cash value or limited valuation, as applicable. 42-15010. Applying assessment percentages A. In preparing the tax rolls, the county assessor shall apply the appropriate percentage to the full cash value or limited property value of property, as applicable, to show the assessed valuation. B. If a parcel of property has more than one percentage applied to its full cash value under this section due to multiple uses, the county assessor shall apply the percentage to the limited property value of the parcel in the same proportion and in the same manner as the parcel's full cash value. 42-15051. Time of assessment Unless otherwise provided by law, property is assessed for taxes levied under this title when its valuation is determined and lawfully placed on the roll. 42-15052. Compiling information; property report; examining documents; summoning witnesses The county assessor may: 1. Demand from each person or firm or from the president, cashier, treasurer or managing agent of each corporation or association that owns, claims, controls or possesses property in the county a correct report under oath or affirmation of all property in the county that the person, firm, corporation or association owns, claims, possesses or controls. 2. Request information from each person, firm, corporation or association that bears on reporting or valuing taxable property. 3. Examine maps, drawings, books, invoices and papers. 4. Summon witnesses to appear and compel them to provide the information. 42-15053. Duty to report personal property; exemption; contents of report; confidentiality A. On or before February 1 of each year, the assessor shall mail a form, notice or demand to each person that owns or has charge or control of taxable personal property in this state. Each person shall prepare and deliver to the assessor a correct report of property on or before April 1 of each year. On written request and for good cause shown, the assessor may extend for up to thirty days the time for filing the report. B. Property that is not required to be reported as provided by subsection D of this section is exempt from the reporting requirement of subsection A of this section. The county assessor may not require a person that owns or has charge or control of property that is not required to be reported as provided by subsection D of this section to apply to be exempt from the reporting requirement of subsection A of this section. C. The duty to report taxable property pursuant to this section applies regardless of whether the person or entity that owns or has charge or control of the personal property also owns real property in the county with a value of $200 or more. D. The assessor shall not require a report of: 1. The breed, number, age or location of livestock on hand from individuals, corporations, partnerships or any other business if the livestock is exempt from taxation pursuant to article IX, section 13, Constitution of Arizona. 2. The personal property that is class two (P) property pursuant to section 42-12002, paragraph 2 and that is used for agricultural purposes or that is class one, subclasses 8 through 11 and 13 property pursuant to section 42-12001 and that is used in a trade or business that is exempt from taxation pursuant to article IX, section 2, subsection E, Constitution of Arizona. E. Every assessment made against property that is subject to taxation is valid whether or not the form, notice or demand was sent or received. F. The department shall prescribe in detail the contents of property reports including the specific wording to be used by county assessors and the method of reporting property. The report shall not include any question that is not germane to the valuation function. G. A report that is furnished under this section: 1. Is not open to public inspection, but the report may be used as evidence in any prosecution brought under section 42-15055. 2. May be subject to audit. On completing an audit or on discovering property that has not been reported, any property that was found to have escaped taxation is liable for the amount of taxes due determined under chapter 16, article 6 of this title, plus a penalty equal to ten percent of that amount. The county treasurer shall credit monies received as penalties under this paragraph to the county general fund. 42-15054. Listing by assessor on failure to receive report; investigations A. If a person refuses on demand to give under oath or affirmation the report as required by section 42-15052 or 42-15053, or if the owner of property that is not reported by another person is absent or unknown, the assessor shall fill out a report for that person and shall include all taxable property that the assessor has reason to believe that the person owns, possesses or controls. If the name of an absent owner is known to the assessor, the property shall be assessed in that name, but if the name is not known, it shall be assessed to "unknown owners". B. The assessor shall make such investigation as necessary to ensure that all property subject to taxation in the county is properly included on the assessor's property lists. C. If the assessor believes that a person has not returned a full and complete report of all property that the person possesses or controls, the assessor may investigate as necessary to ascertain the extent and value of the property. The assessor shall conduct the investigation in such a manner that would discover and correct any errors in the taxpayer's favor as well as discover and correct any errors not in the taxpayer's favor. 42-15055. Failing to file report; false information; classification; evading tax; penalty A. A person who knowingly fails to file any report of taxable property that is required by this article or to supply any information that is required by the assessor or the deputy assessor or who knowingly makes, renders, signs or verifies any false or fraudulent information is guilty of a class 2 misdemeanor. B. A person who knowingly fails or refuses to furnish the assessor with such information or material as demanded under section 42-15052 is guilty of a class 2 misdemeanor. C. If the person fails to deliver the report as required by section 42-15052, the assessor shall add a penalty of an additional ten per cent to the value of the property for the tax year. D. If the person fails to file the report as required by section 42-15053, the assessor shall add a penalty of an additional ten per cent to the value of the property for the tax year. If the person fails to prepare and deliver the report within the specified period, but within thirty days thereafter, the assessor may abate all or part of the penalty. E. Any property that is knowingly concealed, removed, transferred or misrepresented by the owner or agent of the owner to evade taxation is liable, on discovery, for the amount of the taxes due determined pursuant to section 42-15054, plus a penalty equal to the amount of taxes due for the year in which the discovery was made. 42-15057. Information from political subdivisions Each city, town, county or other governmental entity that requires that a building permit be issued to construct or add to residential or commercial buildings shall notify the county assessor in writing: 1. Of the parcel number for which the permit is issued at the time the permit is issued. 2. That the improvements are approved for their intended use at the time the building department makes the final inspection of the improvement. 42-15058. Assessment of contiguous properties owned by the same person If two or more contiguous lots, tracts of land or patented mines are owned by the same person, they may be jointly assessed and one valuation may be determined for the whole. 42-15059. Liability for items of personal property Each item of property in an assessment is liable for the taxes on all items of personal property in the same assessment. 42-15060. Presumptions of ownership For purposes of taxation the following personal property is considered to be the property of the person in possession: 1. Personal property in possession of a fiduciary. 2. Personal property that is mortgaged or pledged. 42-15061. Deduction of liabilities from assessed solvent debts If solvent debts are assessed, the person against whom they are assessed may deduct the person's liabilities from the amount of the debts. 42-15062. Listing and valuing water ditches and toll roads A. Water ditches that are constructed for mining, manufacturing or irrigation purposes and toll roads shall be valued in the same manner as real property at a rate per mile for the portion that lies in each county. B. Each county assessor shall list water ditches and toll roads as a whole without separating the land and franchise, improvements and property in either the description or the valuation. C. The valuation of private irrigation ditches that are owned entirely by the persons who use all of the supplied water on their own lands shall be determined as a part of the land. 42-15063. Assessing livestock; lien A. Except as provided in section 42-11126, range livestock shall be assessed, and the taxes levied against the livestock shall be collected, as taxes on real property. B. The assessment constitutes a lien for taxes on all livestock under the same brand. If the owner of a brand sells any range livestock less than the entire number under the brand before the taxes are due, the owner may pay the tax on the number sold proportioned to the number assessed under the brand. That amount shall be credited on the amount due under the assessment against livestock under that brand, and the number sold are thereupon released from the lien. 42-15065. Assessing personal property construction work in progress; definition 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. 42-15066. Assessing clean rooms as personal property; definition A. Clean rooms that are used for manufacturing, processing, fabrication or research and development of semiconductor products shall be valued and assessed as tangible personal property. B. For purposes of this section, "clean room" means all property that comprises or creates an environment where humidity, temperature, particulate matter and contamination are precisely controlled within specified parameters, without regard to whether the property is actually contained within that environment or whether any of the property is affixed to or incorporated into real property. Clean room: 1. Includes the integrated systems, fixtures, piping, movable partitions, lighting and all property that is necessary or adapted to reduce contamination or to control airflow, temperature, humidity, chemical purity or other environmental conditions or manufacturing tolerances, as well as the production machinery and equipment operating in conjunction with the clean room environment. 2. Does not include the building or a permanent, nonremovable component of the building that houses the clean room environment. 42-15101. Annual notice of full cash value; amended notice of valuation A. Except as provided by section 42-13254, on any date before March 1 of each year the county assessor shall notify each owner of record, or purchaser under a deed of trust or an agreement of sale, of property that is valued by the assessor as to the property's full cash value and the limited property value, if applicable, to be used for assessment purposes. B. The notice under this section shall be in writing and shall be mailed, delivered by common carrier, or on request of the taxpayer transmitted electronically to the person's last known mailing, delivery or electronic address. With respect to any property transferred by a beneficiary deed pursuant to section 33-405, until the county assessor is notified by the beneficiary in writing, accompanied by a certified copy of the last surviving owner's death certificate and the change of address, mailing of the notice to the last known address of the deceased owner is deemed a mailing to the beneficiary's last known mailing, delivery or electronic address as required by this section. C. On the same date each year the assessor shall certify to the board of supervisors and the department the date on which all notices under this section were mailed. D. The director may extend the final date for mailing notices beyond March 1 for a period of not more than thirty days for delays caused by an act of God, flood or fire or a state of emergency declared pursuant to section 26-303. If the director extends the mailing date, the extension applies to all property valued by the assessor. E. Within sixty days after the mailing of the notice of valuation pursuant to this section, if the assessor discovers that property characteristic data applicable to a grouping of properties delineated by neighborhood or classification resulted in an incorrect opinion of value, the assessor may amend the notice of valuation and, if amended, shall notify the property owner of the amended value pursuant to subsection B of this section. The assessor shall transmit any proposed amendments made under this subsection to the department as provided by section 42-11056, subsections B and C, in a format prescribed by the department. The assessor shall not mail the amended notices of valuation until the proposed amendments are transmitted to the department and the department approves the amended values. The assessor shall certify the amended notices of valuation pursuant to subsection C of this section. F. After the mailing date of the notice, any person who owns, claims, possesses or controls property that is valued by the assessor may inquire of and be advised by the assessor as to the valuation of the property determined by the assessor, but the assessor shall not change the roll except as provided by chapter 16, article 2 of this title or as otherwise provided by law. 42-15102. Notice information entered by assessor A. The assessor shall include in the assessment notice: 1. The full cash value found by the assessor for the property for the preceding valuation year. 2. The classification of the property pursuant to chapter 12 of this title. 3. The mailing date of the notice. 4. The last date on which the owner may file an appeal from the valuation or classification assigned to the property. B. Except for property that is listed as class three property under section 42-12003, owner-occupied residential property that is listed as class four property under section 42-12004, subsection A, paragraph 1 and single family rented residential property that is listed as class four property under section 42-12004, subsection A, paragraph 2, the notice shall separately list the full cash value of the land and the full cash value of the improvement or improvements associated with the land. 42-15103. Contents of notice form The notice form shall: 1. Prominently display a statement for all residential properties that: (a) Defines class three properties as described in section 42-12003. (b) Informs property owners that if the property listed on the notice does not meet the description provided pursuant to subdivision (a) of this paragraph, the owner must notify the county assessor of the usage of the property or the owner may be subject to a civil penalty prescribed by section 42-12052. 2. Include simplified instructions on the procedure and deadlines for appealing the assessed valuation shown on the notice. 3. Prominently display a statement informing owners of property that is used for residential rental purposes that: (a) The parcel must be listed on the notice as class four, and the owner must register the residential rental property with the county assessor pursuant to section 33-1902 or the owner may be subject to a penalty. (b) If the owner is required to register the rental property with the county assessor and fails to do so after receipt of this notice, the city or town may impose a civil penalty payable to the city or town in the amount of $150 per day for each day of violation, and the city or town may impose enhanced inspection and enforcement measures on the property. (c) Residential rental properties are required to comply with the landlord tenant law pursuant to title 33, chapters 10 and 11. 42-15104. Appeal A person who is not satisfied with the valuation or classification of the person's property determined by the assessor may: 1. Petition the assessor for review pursuant to chapter 16, article 2 of this title. 2. Appeal to tax court pursuant to section 42-16201. 42-15105. Supplemental notice and appeal of valuation or classification in case of new construction, changes to assessment parcels and changes in use For property that is valued by the assessor, in the case of new construction, additions to, deletions from or splits or consolidations of assessment parcels and changes in property use that occur after September 30 of the preceding year and before October 1 of the valuation year: 1. The assessor shall notify the owner of the property of any change in the valuation or legal classification on or before September 30 of the valuation year. 2. Within twenty-five days after the date of the assessor's notice, the property owner may appeal the valuation or legal classification to the state board of equalization if the property is located in a county with a population of five hundred thousand persons or more or to the county board of equalization if the property is located in any other county. 42-15151. Preparation of county roll The county assessor shall prepare the assessment roll in the form and containing the information prescribed by the department. 42-15152. Inclusion of all property on the roll A. In addition to all other property that is required by law to be placed on the roll, all real property that is subject to the jurisdiction of this state, regardless of ownership or by whom it is claimed, possessed or controlled, and regardless of whether it is exempt from taxation by law or by the Constitution of Arizona, shall be listed on the roll in the manner prescribed by this article. This subsection does not alter any statute or constitutional provision relating to property that is exempt from taxation. B. The roll shall also include the total personal property tax roll as provided in section 42-17053. 42-15153. Completion and delivery of property lists and assessment roll; use of lists by administrative appeals bodies A. On or before December 20 of each year, the county assessor shall complete the assessment roll and attach the assessor's certificate to the roll with a cross-index of all property listed in the roll, showing the ownership of the property and all assessment lists from which the roll was compiled. B. The assessor shall deliver the lists and certified roll to the clerk of the board of supervisors who shall file them in the clerk's office. C. The county board of equalization and the state board of equalization may use the lists for any lawful purpose. 42-15155. Abstract of assessment roll; contents; distribution A. On or before January 20 of each year, the clerk of the board of supervisors shall make an abstract of the roll containing the valuations by taxing jurisdictions of all property in the county including: 1. The total personal property tax roll as provided by section 42-17053. 2. Such other information as prescribed by the department. B. The clerk shall file one copy of the abstract in the office of the board of supervisors and shall transmit additional copies to the state or county board of equalization, as appropriate, and to the department. 42-15156. Statewide abstract of property on county rolls; distribution A. The department shall prepare an abstract containing the valuation by county and taxing jurisdiction of all property that is subject to property taxation in this state. B. Before April 30 the department shall transmit copies of the statewide abstract to the state or county board of equalization, as appropriate, and each county board of supervisors. 42-15157. Destruction of property after rolls closed; proration of valuation and taxes A. If a property is destroyed after the county assessor closes the rolls, the property owner may file a notice of claim pursuant to section 42-16254 or the county assessor may issue a notice of proposed correction pursuant to section 42-16252 to prorate the valuation of the property from the date of destruction. B. If the county assessor finds that the property has been destroyed: 1. The county assessor shall prorate the value of the property from the lien date to the date of destruction. 2. The county assessor shall notify the property owner of the property assessment pursuant to the applicable notice requirements provided in this chapter or chapter 16 of this title. 3. The county treasurer shall compute the amount of taxes assessed against the property by applying the tax rate for the appropriate tax year to the original valuation prorated for the portion of the year the property was intact, plus the tax rate for the appropriate tax year to the reassessed value of the property prorated for the balance of the year. C. If the county assessor finds that a property has been destroyed by a verifiable accident, including fire, flood or any other act of God, the county assessor may maintain the property classification in place on the date the property is destroyed for a period of five years or until an objectively verifiable change in use occurs, whichever is earlier. 42-15201. Definitions In this article, unless the context otherwise requires: 1. "Mobile home" has the same meaning prescribed in section 42-19151. 2. "Permanently affixed" means the installation of a mobile home on real property that is owned by the owner of the mobile home. 42-15202. Assessment of permanently affixed mobile homes as real property A mobile home that has been permanently affixed to real property and for which an affidavit of affixture has been recorded pursuant to this article shall be assessed as real property. 42-15203. Affidavit of affixture A. A person who owns a mobile home that is permanently affixed to real property may file an affidavit of affixture with the county recorder of the county in which the real property is located. B. An affidavit of affixture shall contain all of the following: 1. The vehicle identification numbers of the mobile home. 2. The legal description of the real property to which the mobile home has been affixed. 3. A statement that the mobile home has not previously been assessed and taxed in this state as personal property or the name and address of the person to whom the last tax statement for the mobile home was sent and the location of the mobile home when it was last taxed. 4. The name of the holder of any security interests in the mobile home that are not terminated by consent of the secured party contained on the affidavit of affixture pursuant to subsection C of this section and the original principal amount secured by the security interest. 5. As an attachment, the department of transportation's receipt issued pursuant to section 28-2063, subsection A, paragraph 3. C. The recording of an affidavit of affixture does not impair the rights of any holder of a perfected security interest in the mobile home unless the affidavit of affixture contains the acknowledged consent of the secured party to the termination of the security interest. If a secured party so consents, that security interest terminates when the affidavit of affixture is recorded. D. If an affidavit of affixture is submitted for recording on a mobile home entering this state for sale or installation, a certificate of compliance or waiver issued by the Arizona department of housing is required and shall be submitted with the affidavit of affixture. E. If a release of a security interest that, according to its terms, recites that it secures an obligation having a stated indebtedness not greater than five hundred thousand dollars exclusive of interest has not been executed and recorded within sixty days of full satisfaction of the obligation secured by the security interest, a title insurer as defined in section 20-1562 may prepare, execute and record a full release of the security interest. At least thirty days before issuing and recording a release pursuant to this subsection, the title insurer shall mail by certified mail with postage prepaid, return receipt requested, to the holder of the security interest contained in the affidavit of affixture at the last known address shown of record and to any persons who according to the records of the title insurer received payment of the obligation at the address shown in the records, a notice of its intention to release the security interest accompanied by a copy of the release to be recorded. The release shall set forth: 1. The name of the holder of the security interest or any successors in interest of record of the security interest and, if known, the name of any servicing agent. 2. The name of the owner of the property shown on the affidavit of affixture. 3. The name of the current record owner of the property. 4. The recording reference to the affidavit of affixture. 5. The date and amount of payment, if known. 6. A statement that the title insurer has actual knowledge that the obligation secured by the security interest has been paid in full. F. The release of security interest may be executed by a duly appointed attorney-in-fact of the title insurer, but such delegation does not relieve the title insurer from any liability pursuant to this section. G. A release issued pursuant to subsection E of this section is entitled to recordation and, when recorded, constitutes a full release of security interest. H. In addition to any other remedy provided by law, a title insurer preparing or recording the release of security interest pursuant to subsection E of this section is liable to any party for actual damage, including attorney fees, that any person may sustain by reason of the issuance and recording of the release of security interest. I. The title insurer shall not record a release of security interest if, before the expiration of the thirty-day period specified in subsection E of this section, the title insurer receives a notice from the holder or servicing agent that states that the security interest continues to secure an obligation. J. The title insurer may charge a reasonable fee for services to the owner of the land or other person requesting a release of security interest, including search of title, document preparation and mailing services rendered, and in addition may collect official fees. K. A mobile home identified in an affidavit of affixture recorded pursuant to section 33-1501 shall be assessed as personal property. 42-15204. Transition from personal property to real property roll After the affidavit of affixture has been recorded, the mobile home shall remain on the personal property tax roll until the next real and personal property tax rolls are prepared, at which time the mobile home shall be transferred from the personal property tax roll to the real property tax roll and shall be considered for all purposes to be a fixture and a real property improvement. 42-15205. Perfecting liens on permanently affixed mobile homes Liens on permanently affixed mobile homes that are assessed under this article shall be perfected either in the manner provided by law for perfecting real property liens or in the manner provided by law for perfecting security interests in fixtures. 42-15251. Definition of remote municipal property In this article, unless the context otherwise requires, "remote municipal property" means either: 1. Property that is owned by a city, town or successor political subdivision and that is not located in the county in which all or part of the city, town or political subdivision is located and from which water may be withdrawn or diverted and transported for use on other property in the county in which the city, town or political subdivision is located. For purposes of this paragraph, property that is owned by a city, town or political subdivision includes property that is owned directly by the city, town or political subdivision and property that is owned indirectly through a nonprofit corporation or another entity that is owned or controlled by the city, town or political subdivision. 2. Property that is privately owned and that previously met the requirements of paragraph 1. 42-15252. Determining assessed valuation of remote municipal property A. The county assessor shall determine the full cash value and assessed valuation of remote municipal property at the same amount and using the same method of assessment as applied to private property that is used for the same purpose in the county. B. Remote municipal property that is used for agricultural purposes as provided in chapter 12, article 4 of this title shall be valued pursuant to chapter 13, article 3 of this title. Remote municipal property that has been retired from irrigated agricultural use but that is not used for any commercial purpose shall be valued at its market value and assessed as class two property pursuant to sections 42-12002 and 42-15002. C. The assessor shall transmit the determination of the value of the property to the county board of supervisors on or before the third Monday in June. 42-15253. Computing amount of taxes otherwise payable on remote municipal property A. On or before the third Thursday in August, the county board of supervisors shall compute and report to the city, town or political subdivision the amount of property taxes that would otherwise be payable on the city's, town's or political subdivision's remote municipal property by: 1. Multiplying the combined total primary property tax rates of the political subdivisions in which the property is located by the assessed valuation of the property. 2. Multiplying the combined total secondary property tax rates of the political subdivisions in which the property is located by the assessed valuation of the property. B. The sum of the primary and secondary taxes so computed is the amount of property taxes otherwise payable on the remote municipal property. 42-15254. Conveyance of remote municipal property to private ownership; payment of tax revenues A. If the municipality conveys the title to the remote municipal property to private ownership, a political subdivision that receives property taxes from the property, and that has outstanding bonds or other long-term obligations that are secured by water transportation revenues under title 35, chapter 3, article 3.4, shall determine the amount of property taxes otherwise payable as prescribed by section 42-15253 as a result of that political subdivision's property tax rates and the value of the property. B. The political subdivision shall make special payments to the county treasurer of the county in which the property is located in the amount determined pursuant to section 42-15253 in the manner prescribed in section 9-433. 42-15301. Definition of possessory improvement In this article, unless the context otherwise requires, "possessory improvement" means all residential, commercial and industrial buildings, together with appurtenant awnings, decks, docks, garages, carports, storage or other incidental buildings, located on federal, state, county or municipal property or the property of another political subdivision of this state that is owned by a nongovernmental possessor thereof. 42-15302. Valuation of possessory improvements The assessor shall use standard appraisal methods and techniques to value possessory improvements. 42-15303. Determining limited property value of possessory improvements The limited property value of possessory improvements shall be calculated pursuant to chapter 13, article 7 of this title and is not subject to the exemption for personal property as set forth in section 42-13304. 42-15304. Tax levy of possessory improvements A. Ownership of improvements on government property shall be considered sufficient security for the payment of taxes levied thereon and may be placed on the real property roll. B. If the tax on any possessory improvement remains unpaid at the date set for selling the real property tax liens, the assessment together with interest, penalties and costs shall be subject to procedures for delinquent taxes as real property pursuant to chapter 18, article 3 of this title. 42-15305. Applicability This article does not alter the definition of, or the characteristics used to determine ownership under applicable law.