Property Tax Assessments

For Arizona homeowners it’s that time of year again when you should be receiving your Notice of Value from the Pima County Assessor’s office in the mail. Most homeowners don’t do more than take a quick glance at this document, but it’s often worth taking the time to look it over more thoroughly. The county does make errors on its assessments which can range from an improper valuation, to the wrong square footage for a home, or even the wrong property classification. All of these errors can have property owners paying more than they should in taxes. If you happen to own a luxury home or vacant lot it’s also even more important to review this information as the higher the dollar amount of your property, the more likely you could see some savings with an appeal of the value. There are some firms in town that specialize in appealing taxes which can save some owners thousands of dollars a year in property taxes.

Even brand new homes have been improperly assessed by stating incorrect square footages which may have been derived from an optional room not selected in your floor plan that others in the neighborhood did add. The class of property also makes a difference in the tax rate applied for your property taxes. For instance, primary residences are taxed at a lower rate than those residences which are investment or rental properties, so make sure yours is classified correctly. If you’ve received your Notice of Value already pull it out of the file and take another look to ensure its accuracy. If you notice hasn’t yet arrived then be sure not to simply toss it aside and give it the proper attention it deserves, it might just save you some hard earned money.

Stephen Woodall
REALTOR, GRI @ Long Realty Company
Stephen has made real estate his full-time career and passion since 2008, primarily specializing in the Foothills & the Northwest Tucson areas of Oro Valley and Marana. He is a multi-million dollar producer, representing both sellers & buyers. Stephen has tremendous experience in new home sales, listing & selling primary residences, listing & selling vacant land, listing & selling luxury homes, investment properties, rentals, and real estate development parcels.

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