In Phoenix property taxes are based on the school district in which you live.
It is not news that Phoenix was one of the hardest hit areas when the real estate market crashed. As a result, many homeowners saw their property values plummet. As of 2011, the market has begun to recover and prices are once again edging higher. Since property taxes are based on the value of the home, these fluctuating values my leave many homeowners perplexed as to what they owe for taxes. According to the Maricopa County Treasurer's Office, the property tax formula is based upon the school district in which you reside, since almost 75% of your property tax dollars go directly to education. Dissecting the property tax formula is somewhat challenging, but can be done by knowing where to find your specific information. Does this Spark an idea?
Instructions
1. View your property taxes by going to the Maricopia County Assessors page and entering in your property parcel number. There is a space located to the right hand side. This will lead you to a page that shows your property taxes and lists any outstanding taxes and fees owed. This page will also provide a link to contact the Assessors Office via e-mail with any questions you might have. You may also choose to call the offices at: 602-506-3011 for person to person assistance.
2. Calculate your property tax based on the value of your property (this value is assessed by the county and will be listed through the Assessors page). Values fluctuate based on area home prices. Begin by taking the value of your property multiplying by ten and dividing by 100. Then you will multiply the primary rate (primary value) and the secondary rate (secondary value) to figure your property taxes. The Secondary Full Cash Value (FCV) is the Assessor's estimate of the true market value. Limited Primary Value (LPV) is a legislatively established value based on a mathematical formula that limits the amount of increase in any given year.
3. Establish which school district you live in beforehand to accurately figure your property taxes. Each district varies. A quick call to the Assessor office will help you to do that.
Tags: your property, property taxes, your property taxes, school district, Assessors page, based value
