Condo property tax (Phoenix, Maricopa: assessment, price, sold)

[Nick from Victoria]

I'm going to be purchasing a condo in the Phoenix area, and I'm wondering if the Maricopa County Assessor immediately adjusts the Full Cash Value (FCV) of a property when it is sold to the sale price. I want to know up front what my property tax bill will be.

I notice that while the assessor has reduced the FCV of many properties in the last year, the Limited Property Value (LPV) continues to rise, so that soon your LPV will equal your FCV. This means the property tax will depend almost entirely on the FCV.

[sablebaby]

Have you checked out the tax assessor's website? You can check the address and see what the tax is. It is calculated yearly.

[Nick from Victoria]

The taxes paid by the previous owner don't necessarily apply if the assessor changes the assessment upon sale of the unit. For example, this is the case in California and Florida.

The assessor website doesn't say if FCV is reset on sale (not very transparent, but that's why I'm asking here).

[sablebaby]

No, the assessor does not do it at the sale, they do it just once per year. So, your taxes should be the same until they have been re-assessed. Even when they do re-assess they should be pretty close (give or take $100 maybe- for a condo). Taxes don't fluctuate terribly out here, even when the bubble was at it's highest, my taxes went up $200 for the next year, but I'm think they will go back down this next time. Taxes are CHEAP here.

[moughie]

Originally Posted by sablebaby

Taxes are CHEAP here.

Especially compared to the Northeast Coast