The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
42-15254 - Conveyance of remote municipal property to private ownership; payment of tax revenues
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.