On February 16, 2018, Yavapai County Assessor Judd W. Simmons will mail out nearly 162,000 Notices of Value for the tax year 2019. These values have an effective valuation date of January 1, 2018 and will be used to calculate your 2019 tax bill.
The 2019 Notice of Value is the County’s official declaration of Full Cash Value and Limited Property Value Assessments. Please note that only the Limited Property Value is used to calculate your 2019 property tax bill. By state statute, the Notice of Value must be mailed before March 1 of the year prior to the tax year. The Notice includes values for both 2018 and 2019, which allow property owners to easily recognize any increase or decrease in assessed value from the previous year.
The median value of single family residences in Yavapai County has increased 11.2% from the 2018 Notice to the 2019 Notice. This increase reflects the addition of new homes in the market place as well as increases in value to the existing home inventory. Please note that this increase is in the median (middle) home value and not the mean (average) home value. Median home values reflect the point at which 50 percent of the homes are below this value and 50 percent are above this value.
All property owners should review their Full Cash Value. If you believe it is at or above “Market Value”, or what you could sell for in today’s market, then consider filing an appeal. Information on the appeal process is contained on the Notice. The Full Cash Value is intended to reflect a value slightly below “Market Value” and only the Full Cash Value can be appealed.