42-11127. Exempt personal property
A. Pursuant to article IX, section 2, subsection F, Constitution of Arizona, personal property that is class two property pursuant to section 42-12002, paragraph 2, subdivision (a) or (b) and that is used for agricultural purposes or personal property that is class one property pursuant to section 42-12001 and that is used in a trade or business as described in section 42-12001, paragraphs 8 through 11 or 13 is exempt from taxation up to a maximum amount of $500,000 of full cash value for each taxpayer.
B. On or before December 31 of each year, the department shall increase the maximum amount of the exemption for the following tax year based on the percentage increase, if any, in the employment cost index for total compensation for private industry workers in the two most recent complete state fiscal years. For the purposes of this subsection, "employment cost index" means the average of the employment cost indices reported by the United States department of labor, bureau of labor statistics or its successor for the eight quarters of the two most recent state fiscal years.
Notes of Decisions
Maricopa Cnty. v. Kinko's Inc., 56 P.3d 70 (Ariz. Ct. App. 2002).
· cites it 33× “Appellants assert that the tax court erred by construing § 42-11127, which expressly grants an exemption up to $50,000 to “each assessment account,” as applicable to each property owner only once for all such property in the state.”
Circle K Stores, Inc. v. Apache Cnty., 18 P.3d 713 (Ariz. Ct. App. 2001).
· cites it 12× “¶ 21 In 1998, the legislature amended section 42-280, then renumbered as section 42-11127, by providing that specified classes of personal property used for agricultural, trade, or business purposes are “exempt from taxation up to a maximum amount of fifty-thousand dollars of…”
— Ariz. Rev. Stat. § 42-11127(A) — 2 cases
Circle K Stores, Inc. v. Apache Cnty., 18 P.3d 713 (Ariz. Ct. App. 2001).
“¶ 21 In 1998, the legislature amended section 42-280, then renumbered as section 42-11127, by providing that specified classes of personal property used for agricultural, trade, or business purposes are “exempt from taxation up to a maximum amount of fifty-thousand dollars of…”
Maricopa Cnty. v. Kinko's Inc., 56 P.3d 70 (Ariz. Ct. App. 2002).
“Appellants assert that the tax court erred by construing § 42-11127, which expressly grants an exemption up to $50,000 to “each assessment account,” as applicable to each property owner only once for all such property in the state.”
— Ariz. Rev. Stat. § 42-11127(D) — 2 cases
Circle K Stores, Inc. v. Apache Cnty., 18 P.3d 713 (Ariz. Ct. App. 2001).
“¶ 21 In 1998, the legislature amended section 42-280, then renumbered as section 42-11127, by providing that specified classes of personal property used for agricultural, trade, or business purposes are “exempt from taxation up to a maximum amount of fifty-thousand dollars of…”
Maricopa Cnty. v. Kinko's Inc., 56 P.3d 70 (Ariz. Ct. App. 2002).
“Appellants assert that the tax court erred by construing § 42-11127, which expressly grants an exemption up to $50,000 to “each assessment account,” as applicable to each property owner only once for all such property in the state.”
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