Arizona Property Taxes, Home Property Appraisals

NO: City is fiddling with numbers on property taxes to sell this issue Feb. 20, 2006 In selling its bond program, Phoenix is staking its claim of "no new taxes" on the property tax rate remaining constant. The average increase for Phoenix property owners will be 23 percent.

This means there is, potentially, a flood of cash from which the city can finance projects. For full story click Arizona Property Tax

Arizona Home buyers want to know how much to offer for a house, sellers want to know how much to list a house for. Those seeking a property tax appeal want to know the market value of comparable homes in order to make adjustments to their home's worth. Variations in age, size, condition of the home, and other differences in amenities plus other factors weigh in on the overall market value of a home.

Arizona real estate agents can offer a CMA (Comparable Market Analysis) for houses in the area. This is a ball park figure. A more definitive figure is arrived at by obtaining an appraisal. A Home Market Value Appraisal gives a definitive value for the specific time frame in which the analysis was conducted. Prices range upward to $350.00 depending on the region in which you live.

Doing your own Home Market Value Appraisal is not rocket science. Investigating and doing it yourself will save you money and also give you an edge in negotiating. We suggest checking into the two options listed above (1) and (2).

If you desire to challenge your house property taxes and want to go the professional route, be prepared to open your wallet wide. Besides the appraisal fee, the appraiser will have to charge for a day's time at the municipal review. If you decide on hiring a professional mouthpiece, the attorney will not guarantee the result. You could lose the case and easily lose over a grand in the process. Again, we suggest checking into the two options listed above (1) and (2).

The Personal Property Manual contains information regarding the identification and valuation of locally assessed personal property, taxpayer reporting requirements, valuation tables, and descriptions of the methods of making value adjustments that are used in the assessment of many kinds of personal property. The manual describes a wide variety of personal property items, including information on the identification and valuation of mobile home and manufactured housing units. An explanation of the personal property appeal process (which differs in some respects from the real property appeal process) is also included free at : http://www.revenue.state.az.us

US Census Bureau

Arizona House Value, Home Appraisal Market Value, Property Tax Appeal Comparable Sales Information
(Statisics compiled from Bureau of Economic Analysis, an agency of the U.S. Department of Commerce)
The population of Arizona in 2003 was 5,579,222. Its rank was 18th in the nation. (The District of Columbia is included for ranking purposes.)

PER CAPITA PERSONAL INCOME
In 2003 Arizona had a per capita personal income (PCPI) of $27,232. This PCPI ranked 39th in the United States and was 87 percent of the national average, $31,472. The 2003 PCPI reflected an increase of 2.1 percent from 2002. The 2002-2003 national change was 2.2 percent. In 1993 the PCPI of Arizona was $18,293 and ranked 37th in the United States. The 1993-2003 average annual growth rate of PCPI was 4.1 percent. The average annual growth rate for the nation was 4.0 percent.

TOTAL PERSONAL INCOME
In 2003 Arizona had a total personal income (TPI) of $151,933,040. This TPI ranked 22nd in the United States. In 1993 the TPI of Arizona was $74,369,681 and ranked 25th in the United States. The 2003 TPI reflected an increase of 4.7 percent from 2002. The 2002-2003 national change was 3.2 percent. The 1993-2003 average annual growth rate of TPI was 7.4 percent. The average annual growth rate for the nation was 5.1 percent.

Business owners likely to face increased property valuations, taxes Deron Webb, a local tax consultant with Wentworth Webb & Post, told the Phoenix Business Journal that those valuations are expected to have increased between 35 percent and 70 percent.

"In general if you are looking at a commercial property that was valued last year at $500,000 and if it rises 40 percent in 2007, the valuation will rise to $700,000," said Webb.

Webb said business property tax valuations in Arizona are assessed at nearly 2.5 times the rate of personal property taxes and he said that is bad for the economy. For complete article click Arizona Property Taxes

Arizona Property Taxes, Arizon Property Tax Appeals