single year valuation cycle arizona association of assessing officers
DESCRIPTION
Data Tax Bill = 3 ½ YearsTRANSCRIPT
Single Year Valuation CycleArizona Association of Assessing Officers
Arizona’s Current System
March 1, 2015 NOV
September, 2016 Taxes Paid
June 2013- May 2014 Data Collection
Data Tax Bill = 3 ½ Years
Consequences Negative consequences of the dual year
valuation system: Inability to respond to the market
Housing Market Crash 2008
Taxpayer confusion
Inaccurate data (old data)
Cont. Notice Of Change
Frustrating for property owners “Second bite”
Single Year Cycle February 1, 2015 NOV
September 2015, taxes paid
June 2013-July 2014 Data Collection
Data Tax Bill 1 ½ Years
Benefits If this system would
have been in place, properties would have received valuation relief in February 2009.
More Accuracy With Data collected closer to the tax bill,
the values are more accurate when compared to current market.
Benefits in an up and down market. Proposition 117
Repeals the Notice of Change No longer needed in
a one year system.
Simpler, Straightforward System
You receive your valuation, and tax bill within the same year.