Arizona Revised Statutes Title 42. Taxation § 42-13205. Valuation method applied on appeal

1. The income method commonly known as the straight line building residual method pursuant to § 42-13203, subsection D. If the reviewing body finds that other information that is customarily analyzed under the income method must be used to properly apply the income method to the property, it may use the other information to supplement information provided by the owner if:

2. The replacement cost less depreciation method pursuant to § 42-13203.

3. The market comparison method, if a sale of the subject property occurred within two years before the date of valuation and no material change to the property, its lease terms, tenants or occupancy rates or any other material fact has occurred since the sale. If the market comparison method is applicable, the reviewing body may consider information on sales of other properties that occurred within two years before the date of valuation and that are determined to be comparable to the subject property by clear and convincing evidence.