The Arizona Department of Revenue (Department or ADOR) administers the property tax system in cooperation with the 15 county assessors, among others. Personal property is valued through the cost approach to value.In most cases, personal items are issued an approximate value as a group. Find answers to the a list of common questions other users have asked. You can filter the results to a particular category or properties and services. Intangible property consists of property which represents value, but has no inherent value of its own. Personal Property (DOR Form 82179PT) to advise the tax officer of an error in the assessment of their property. That form identifies the type of error and the. The Notice of Valuation includes the property's Full Cash Value (FCV), Limited Property Value (LPV), and Property Classification of the property. 03, the personal property used in the operation of their motel remained the same, with no significant additions or deletions.