AZ Rev Stat § 42-12002 (2021)
2021 Arizona Revised Statutes|Title 42 - Taxation|§ 42-12002 - Class two property

42-12002.  Class two property For purposes of taxation,  class two is established consisting of three subclasses: 1. Class two (R) consists of: (a) Real property and improvements to property that are used for agricultural purposes and that are valued at full cash value or pursuant to chapter 13,  article 3 of this title,  as applicable. (b) Real property and improvements to property that are primarily used for agricultural purposes to produce trees other than standing timber,  vines,  rosebushes,  ornamental plants or other horticultural crops,  regardless of whether the crop is grown in containers,  soil or any other medium,  that are not included in class one,  three,  four,  six,  seven or eight and that are valued at full cash value or pursuant to chapter 13,  article 3 of this title,  as applicable. (c) Real property and improvements to property that are owned and controlled by a nonprofit organization that is exempt from taxation under section 501(c)(3),  (4),  (7),  (10) or (14) of the internal revenue code if the property is not used or intended for the financial benefit of members of the organization or any other individual or organization,  unless the financial benefit is for charitable,  religious,  scientific,  literary or educational purposes,  and that are valued at full cash value. (d) Real property of golf courses that is valued at full cash value or pursuant to chapter 13,  article 4 of this title. (e) Real property and improvements to property of a guest ranch that are valued pursuant to chapter 13,  article 12 of this title. (f) All other real property and improvements to property,  if any,  that are not included in class one,  three,  four,  six,  seven or eight and that are valued at full cash value. 2. Class two (P) consists of: (a) Personal property that is used for agricultural purposes and that is valued at full cash value or pursuant to chapter 13,  article 3 of this title,  as applicable. (b) Personal property that is primarily used for agricultural purposes to produce trees other than standing timber,  vines,  rosebushes,  ornamental plants or other horticultural crops,  regardless of whether the crop is grown in containers,  soil or any other medium,  that is not included in class one,  three,  four,  six,  seven or eight and that is valued at full cash value or pursuant to chapter 13,  article 3 of this title,  as applicable. (c) Personal property that is owned and controlled by a nonprofit organization that is exempt from taxation under section 501(c)(3),  (4),  (7),  (10) or (14) of the internal revenue code if the property is not used or intended for the financial benefit of members of the organization or any other individual or organization,  unless the financial benefit is for charitable,  religious,  scientific,  literary or educational purposes,  and that is valued at full cash value. (d) Personal property of golf courses that is valued at full cash value or pursuant to chapter 13,  article 4 of this title. (e) Personal property of a guest ranch that is valued pursuant to chapter 13,  article 12 of this title. (f) All other personal property that is not included in class one,  three,  four,  six,  seven or eight and that is valued at full cash value. 3. Class two (C) consists of real property,  and improvements to real property,  that is burdened by a conservation easement that has been created and is currently in effect pursuant to title 33,  chapter 2,  article 4.