42-13354. Assessing personal property construction work in progress; definition A. The county assessor shall not value or assess personal property construction work in progress until the construction work has progressed to a sufficient degree for the personal property to be useful for the purposes for which it is being constructed. B. For the purposes of this section, ' personal property construction work in progress' means the amount spent and entered on the taxpayer s accounting records as of December 31 of the preceding calendar year as construction work in progress.
Arizona Legal Code
§ 42.13354
Source: https://www.azleg.gov/ars/42/13354.htm· Version 2026