Arizona statutes require the County Assessor’s office to maintain all real estate values and to physically inspect each parcel at least once every four years. Staff appraisers visit the properties and note any changes in the physical attributes. This information is stored by the assessor, updated and maintained for current and future use in the assessment process.
Purpose of Appraisals
The purpose of the appraisals generated by the Yavapai County Assessor’s office is to estimate the market value for ad valorem tax purposes only. The effective date of the appraisals is January 1 of each year.
Definition of Market Value
“Market Value” is defined as the probable sale price of a property in terms of money in a competitive and open market, assuming that the buyer and seller are acting prudently and knowledgeably, allowing sufficient time for the sale, and assuming that the transaction is not affected by undue pressures.
Analysis of Market Values
Once market values have been calculated based on information gathered by the property appraisers, the values are analyzed to determine how accurate and equitable they are. The property appraiser does not create market value. The buying and selling of property by the general public establishes the value of property in the real estate marketplace.
A comparison of assessments to sales prices is performed to determine ratios, which are then used to measure the levels and uniformity of assessments. Sales ratio studies by neighborhood, type of property and other characteristics are performed on a regular basis to assure uniformity of values.
Assessment of Valuation Factors
The items below are examples of factors taken into account when assessors value your property. These factors taken in combination with recent home sale statistics, allow assessors to establish a “market value” assessment for residential properties.
- Style of Building (examples: single level, bi-level, specialty homes)
- Use of property
- Size of lot
- Size of house (outside measurements)
- Year built
- Additional Structures (examples: garages, porches, swimming pools)
- Exterior finish
- Building condition
- Type of roof
- Fireplaces, air conditioning or other special features
About the Assessor's Appraisal Employees
Appraisers employed by the Yavapai County Assessor’s Office drive Yavapai County Government issued vehicles and wear identification badges.
The Appraisers visit all taxable properties in the County on a regular basis and collect data about the land, buildings/improvements and personal property, which is used to help establish values. Values are determined by actual sales made in the market place. The Assessor’s Office has the legal responsibility to study those transactions and appraise all property accordingly.
Information that is collected by the appraisers is also used to update the Assessor parcel maps and the county’s GIS (Geographical Information Systems) Mapping Applications.