Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Arizona > Phoenix area
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-28-2023, 07:28 AM
 
9,673 posts, read 11,028,153 times
Reputation: 8386

Advertisements

As the title suggests, check your 2024 pending Maricopa County assessed home values. Ours jumped 36% from 2023 (which was valued factually under the market). Now, for 2024, it is listed at least 15% higher than what I could sell my house for today.

Has anyone else observed the same thing?
Reply With Quote Quick reply to this message

 
Old 02-28-2023, 09:06 AM
 
Location: Sonoran Desert
38,953 posts, read 50,866,357 times
Reputation: 28134
Quote:
Originally Posted by MN-Born-n-Raised View Post
As the title suggests, check your 2024 pending Maricopa County assessed home values. Ours jumped 36% from 2023 (which was valued factually under the market). Now, for 2024, it is listed at least 15% higher than what I could sell my house for today.

Has anyone else observed the same thing?
My property in Coconino is even worse. I have never seen assessed close to market values before much less above. It makes me wonder if they changed their methodology. Get ready for the bite. Those big tax income cuts for the wealthy that Ducey passed out will have to be made up in property taxes. We get more like Texas every day.
Reply With Quote Quick reply to this message
 
Old 02-28-2023, 09:35 AM
 
9,673 posts, read 11,028,153 times
Reputation: 8386
Quote:
Originally Posted by Ponderosa View Post
My property in Coconino is even worse. I have never seen assessed close to market values before much less above. It makes me wonder if they changed their methodology. Get ready for the bite. Those big tax income cuts for the wealthy that Ducey passed out will have to be made up in property taxes. We get more like Texas every day.
In theory, so long as every home/property is overvalued by the same percentage, your property taxes won't go up. As a hypothetical example, let's say the county needs $4 Billion. And if every property goes up exactly 200% (and over market), then, your value will double but your taxes remain the same.

If you are following, your taxes go UP when your value goes up at a higher percentage than another area or home. Or saying it the other way, if your area doesn't go up as fast as compared ot other areas, then even when your value goes up, your taxes could go down. So when fighting property tax values (and I have had to), my assessor actually said "I'll buy your house for that value", bla, bla, bla.

I had to educate him that I understood reality. And that my value as compared to others was higher even below their assessed market. So by definition, I was overpaying. The same thing has to be done when everything is overpriced. I need to show that my home is at a higher (over) value than other parts of my neighborhood and town. A PITA. But I'm certainly willing to put in the effort.

Saying that the NE Valley has outpaced the other areas of town. So I fully expect to get my rates hiked. And because of that, I need to fight off a higher amount because my neighbors on the golf course that can sell their property for another $300K+ more are assessed a mere $50K more. And in actuality, still slightly below market while mine is above market. My plan is to educate that assessor accordingly.

I've been to meetings where people are babbling about how they cannot afford it, how the rate is higher than inflation etc. No assessor cares to hear that poor (pun intended) argument.
Reply With Quote Quick reply to this message
 
Old 02-28-2023, 05:55 PM
 
Location: az
13,264 posts, read 7,677,101 times
Reputation: 9196
Gilbert up 19% and 16% from 2023.

Chandler up 17% and 14%

Mesa up 13, 18 and 13

Last edited by john3232; 02-28-2023 at 06:55 PM..
Reply With Quote Quick reply to this message
 
Old 03-01-2023, 06:27 AM
 
9,673 posts, read 11,028,153 times
Reputation: 8386
Quote:
Originally Posted by john3232 View Post
Gilbert up 19% and 16% from 2023.

Chandler up 17% and 14%

Mesa up 13, 18 and 13
Are any of your assessed 2024 values over what you can sell them for now in peak, early 2023?
Reply With Quote Quick reply to this message
 
Old 03-01-2023, 08:25 AM
 
Location: az
13,264 posts, read 7,677,101 times
Reputation: 9196
Quote:
Originally Posted by MN-Born-n-Raised View Post
Are any of your assessed 2024 values over what you can sell them for now in peak, early 2023?
Going by Zillow - No.

Zillow has the properties vauled higher than the 2024 estimates.
Reply With Quote Quick reply to this message
 
Old 03-01-2023, 08:44 AM
 
Location: Sonoran Desert
38,953 posts, read 50,866,357 times
Reputation: 28134
Quote:
Originally Posted by MN-Born-n-Raised View Post
In theory, so long as every home/property is overvalued by the same percentage, your property taxes won't go up. As a hypothetical example, let's say the county needs $4 Billion. And if every property goes up exactly 200% (and over market), then, your value will double but your taxes remain the same.

If you are following, your taxes go UP when your value goes up at a higher percentage than another area or home. Or saying it the other way, if your area doesn't go up as fast as compared ot other areas, then even when your value goes up, your taxes could go down. So when fighting property tax values (and I have had to), my assessor actually said "I'll buy your house for that value", bla, bla, bla.

I had to educate him that I understood reality. And that my value as compared to others was higher even below their assessed market. So by definition, I was overpaying. The same thing has to be done when everything is overpriced. I need to show that my home is at a higher (over) value than other parts of my neighborhood and town. A PITA. But I'm certainly willing to put in the effort.

Saying that the NE Valley has outpaced the other areas of town. So I fully expect to get my rates hiked. And because of that, I need to fight off a higher amount because my neighbors on the golf course that can sell their property for another $300K+ more are assessed a mere $50K more. And in actuality, still slightly below market while mine is above market. My plan is to educate that assessor accordingly.

I've been to meetings where people are babbling about how they cannot afford it, how the rate is higher than inflation etc. No assessor cares to hear that poor (pun intended) argument.
Yes, I understand that the assessed value is not the tax rate; that the actual tax is determined by the "need" of the county. However, bloated assessments make it easy for the county board to "need" more and raise more revenue while still making the claim "we cut your taxes" because they can, in fact, cut the tax rate while increasing revenues in that situation. In the past, they have done so and I fully expect they will again. Taxes are going to go up significantly while the various taxing entities tell us they have cut.
Reply With Quote Quick reply to this message
 
Old 03-01-2023, 11:50 AM
 
9,673 posts, read 11,028,153 times
Reputation: 8386
Quote:
Originally Posted by john3232 View Post
Going by Zillow - No.

Zillow has the properties vauled higher than the 2024 estimates.
I was asking about your 2024 newly assessed Maricopa values. By the way, Zillow has me at $140K below my assessed value. I think Zillow is now $50K high too. My place dropped by about 15% off of peak. The assessor's office has me UP $50K off of peak.

I've been looking at it more closely to make my appeal. A few blocks away, there are homes $500K under the market (or only $100K above my 2024 assessed value). IMO, it's all messed up. But the price people are willing to pay for a better view doesn't seem rational. So their algorithm is broken for our specific area.
Reply With Quote Quick reply to this message
 
Old 03-01-2023, 11:52 AM
 
9,673 posts, read 11,028,153 times
Reputation: 8386
Quote:
Originally Posted by Ponderosa View Post
Yes, I understand that the assessed value is not the tax rate; that the actual tax is determined by the "need" of the county. However, bloated assessments make it easy for the county board to "need" more and raise more revenue while still making the claim "we cut your taxes" because they can, in fact, cut the tax rate while increasing revenues in that situation. In the past, they have done so and I fully expect they will again. Taxes are going to go up significantly while the various taxing entities tell us they have cut.
This makes sense ^^. Though, in this era, we are in a unique situation. Everything seems to have gone up by 20-30% over the past couple of years. So I expect collected property taxes to go up that extra percentage too.
Reply With Quote Quick reply to this message
 
Old 03-01-2023, 12:00 PM
 
Location: az
13,264 posts, read 7,677,101 times
Reputation: 9196
Quote:
Originally Posted by MN-Born-n-Raised View Post
I was asking about your 2024 newly assessed Maricopa values. By the way, Zillow has me at $140K below my assessed value. I think Zillow is now $50K high too. My place dropped by about 15% off of peak. The assessor's office has me UP $50K off of peak.

I've been looking at it more closely to make my appeal. A few blocks away, there are homes $500K under the market (or only $100K above my 2024 assessed value). IMO, it's all messed up. But the price people are willing to pay for a better view doesn't seem rational. So their algorithm is broken for our specific area.
The Chandler/Gilbert 2024 assessed values are slightly higher than 2023. About 5%.

When I bought a short-sale in 2011. I paid $120k less than the owner who bought the new build in 2007.

Yet, the sale price was not reflexed in the property tax. I paid roughly the same tax as the previous owner the last year he owned the home.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Arizona > Phoenix area

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top