Personal Property used in a commercial business or agricultural operation is required to be reported annually to the county assessor. The Arizona Business Property Statement (Form 82520) and Arizona Agricultural Business Property Statement (Form 82520A) are mailed by the assessor on or before February 1. The taxpayer is required to return the completed property list to the assessor by April 1.
Arizona law exempts the following property from the reporting requirement:
The first $195,878 in full cash value (2021 exemption limit)
Personal property valuation notices are mailed in June. A taxpayer who believes the valuation on the personal property valuation notice is in error may file an appeal with the assessor using a Personal Property Petition For Review of Valuation (Form 82530) within 30 days from the mailing date of the notice.