Arizona Department of Revenue v. Trico Electric Cooperative, Inc.

GORDON, Vice Chief Justice.

*546I.

Appellant Trico Electric Cooperative, Inc. (“Trico”) owned property in Arizona subject to property tax assessment in 1982 and 1983 under A.R.S. § 42-124.01 1 (now § 42-144). Based on information contained in Trico’s annual reports filed with the Arizona Department of Revenue (the “DOR”) for years ending December 31, 1982, and December 31, 1983, the DOR calculated the taxable value of Trico’s property under § 42-124.01 to be $16,865,000 for 1983 and $18,147,000 for 1984.

Trico appealed the DOR’s valuations to the State Board of Tax Appeals (the “Board”). The Board…