single year valuation cycle arizona association of assessing officers
DESCRIPTION
Data Tax Bill = 3 ½ YearsTRANSCRIPT
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Single Year Valuation CycleArizona Association of Assessing Officers
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Arizona’s Current System
March 1, 2015 NOV
September, 2016 Taxes Paid
June 2013- May 2014 Data Collection
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Data Tax Bill = 3 ½ Years
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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)
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Cont. Notice Of Change
Frustrating for property owners “Second bite”
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Single Year Cycle February 1, 2015 NOV
September 2015, taxes paid
June 2013-July 2014 Data Collection
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Data Tax Bill 1 ½ Years
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Benefits If this system would
have been in place, properties would have received valuation relief in February 2009.
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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
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Repeals the Notice of Change No longer needed in
a one year system.
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Simpler, Straightforward System
You receive your valuation, and tax bill within the same year.