Arizona Property Tax Calculation Change

If you own property in Arizona please check your property valuation statement when comes out towards the end of February or early March. If the value is higher than you think it should be ask me or another Realtor for a Comparative Market Analysis or have the property appraised and consider challenging the value.  You may not need to challenge the value, it may not be worth your time and trouble to challenge it, but you should check just in case.

Remember Prop. 117? It was advertised, incorrectly, as keeping your taxes low. It does cause  property taxes to be calculated differently: makes the calculation simpler, uses only the limited property value (LPV) for the calculation of the primary and secondary taxes instead of both LPV and the full cash value (FCV), and limits the increase in value of LPV to 5% per year or FCV whichever is lower, however it can very quickly make your property taxes higher.  Since the FCV serves as an upper limit on the amount the taxes can be calculated against you’ll want to be sure that value is as low as practical.

Prop 117 takes effect in 2015 and you need to challenge the valuation of your property THIS YEAR for it to be in effect for the 2015 calculation of tax (FCV and LPV for 2014 was set this January and will be mailed out later this month).  If you don’t get your tax valuation statement in the mail early March then go online at  to find it.  You only have 60 days after the statement is issued to challenge it.  Not getting the statement is not an excuse.  They don’t care.  The time to challenge is within 60 days of the statement being ISSUED.  If you miss the deadline you’re done.

Let me know if you have any questions or would like contact information for resources to assist with the process of challenging your property valuation.  In general you can challenge the valuation yourself but there are people who can assist if you don’t have the time to do it yourself and the difference in value is great enough that it’s worthwhile to hire someone to do it for you.


Oh, By the Way…If you know someone interested in buying or selling who would appreciate this level of service please give me a call with their name and number of have them give me a call.  I’ll take great care of them.