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Arizona Revised Statutes Title 15. Education § 15-1468. Equalization aid for community college districts

Current as of January 01, 2025 | Updated by Findlaw Staff

A. Subject to legislative appropriation, any district that is organized pursuant to § 15-1402 and that has less than the amount of primary assessed valuation prescribed in § 15-1402 shall be paid by this state an amount equal to the following:

1. The difference between the prior year's actual primary assessed valuation of the district and the amount of primary assessed valuation prescribed in § 15-1402.

2. The actual prior year's primary property tax rate for the district.

3. The difference determined in paragraph 1 multiplied by the lesser of the tax rate determined in paragraph 2 or one dollar thirty-seven cents.

B. The equalization aid provided for in subsection A of this section shall be used for the same purposes specified in § 15-1462 and shall be apportioned to any qualifying district pursuant to § 15-1467.

C. This section does not apply to community college districts organized pursuant to § 15-1402.01 or to community college tuition financing districts as prescribed in § 15-1409.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 15. Education § 15-1468. Equalization aid for community college districts - last updated January 01, 2025 | https://codes.findlaw.com/az/title-15-education/az-rev-st-sect-15-1468/

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