A.R.S. § 42-13352: Determining valuation of property of manufacturers, assemblers or fabricators

A. The county assessor shall determine the valuation of both real and personal property valued under this article.

B. For purposes of determining the valuation of property valued under this article, the county assessor shall use standard appraisal methods and techniques as provided in section 42-11001, paragraph 6 and section 42-11054, except as otherwise provided in this article.

C. The taxable value of personal property is the result of acquisition costs less any appropriate depreciation as prescribed by the department. The taxable value shall not exceed the market value.