Arizona law provides authority for the identification, classification, valuation, and assessment of taxable personal property. This publication answers common questions about.An affidavit describing the real property and the interest of the decedent in that property and stating that all of the following are true and material. To use Rule 504, an issuer cannot be an investment company or a "blank check" company i.e. A 504 request can be filled out and submitted online or you may fill out a request in person at the Assessor's office. Arizona statutes provide for a simplified affidavit process for small estates with real property or personal property valued below specific amounts. The Notice of Valuation includes the property's Full Cash Value (FCV), Limited Property Value (LPV), and Property Classification of the property. It includes personal property improvements on possessory rights (I. P.R.'s), and certain leasehold improvements. Ownership of real property is usually transferred in a formal process, and ownership is not complete until the financial obligation has been satisfied.
