Arizona Revised Statutes Title 42. Taxation § 42-11132. Property leased to educational institutions

A. Property, buildings and fixtures that are leased to a nonprofit charter school or a residential treatment and education facility and that are used for educational instruction in any grade or program through grade twelve shall be classified as class nine property pursuant to § 42-12009. If only part of a parcel of real property or improvements to real property is leased for operation of a charter school or a residential treatment and education facility, only the portion so leased qualifies as class nine property.

B. Property, buildings and fixtures that are owned by an educational, a religious or a charitable organization, institution or association and leased to a nonprofit educational organization, institution or association are exempt from taxation if the property is used for educational instruction in any grade or program through grade twelve.

C. If the educational, religious or charitable organization, institution or association that owns the property files with the assessor the affidavit required by § 42-11152, evidence of the organization's, institution's or association's tax exempt status under section 501(c)(3) of the internal revenue code 1 and an affidavit by the educational organization, institution or association that it uses the property for educational instruction as described in subsection B of this section, the property qualifies for the tax exemption under this section. The educational, religious or charitable organization, institution or association shall notify the county assessor in writing pursuant to § 42-11152 if all or part of the property is conveyed to a new owner or is no longer used for educational purposes.