Changes to the Arizona Property Tax System – March 6, 2015

An interesting article in The Republic / by Catherine Reagor details the upcoming changes to the Arizona property tax procedures. There was previously a built in 18 month time lag between property valuation and tax billing to allow time for property owners to appeal their valuations. House Bill 2253 calls for shortening that time lag to 45 or 60 days. The net effect will be to align tax valuations more closely with market values but, will still reflect a conservative valuation of 10 to 20 percent below current market value.

You may recall that during our recent market drop, valuations were not dropping as fast as the market was. That problem will disappear but, in an increasing market, they will now also increase more quickly. I guess we can’t have it both ways. It would have been nice to have this a few years ago.

A nicely explained article, overall at –

Don Hammer
Realty Executives Fine Properties