Business Realty of Arizona, Inc. v. Maricopa County

The theory developed by the majority to solve this interesting issue is unsupported by the text and structure of the underlying statute. By defining “value” as “market value,” the majority defines away the very issue this case presents for resolution. But the statute is not that simple. If the legislature had wanted to achieve the result the majority reaches here, it could simply have enacted a statute requiring shopping center property to be valued at fair market value using whichever of the three generally accepted methods best achieves it. But A.R.S. § 42-147 sets up an elaborate mechanism…