Property Tax in Sun City (Maricopa: sales, assessor, buying a home)

[LookingatFL]

How does property tax work in Maricopa County. From my research I see that it will be based on a percentage of the purchase price multiplied by the mil rate.

If I buy a home that needs renovation for a cheaper price and then renovate it, will the renovations increase my property tax the next year? In other words, if I buy a home that is already fixed up, and a home that I have to renovate, assuming the homes were twins of each other, will my property taxes be the same for both homes in the 2nd year?

[crystalys]

These should give you some answers in understanding property tax:

https://mcassessor.maricopa.gov/faq/...operty-tax.php

https://mcassessor.maricopa.gov/faq/...on-notices.php

https://mcassessor.maricopa.gov/faq/...rty-values.php

"To establish market value, the Assessor's Office gathers information from a number of sources, including previous sales from the area, zoning, topography, view, livable square footage, lot size and other component information, just to name a few. The valuation is determined by a computer analysis of the information gathered. Although properties may look alike on the surface there may be subtle differences. In mass appraisal those are not always obvious, even though they result in different values. Keep in mind the Assessor's Office must value nearly 1.7 million properties, and you have a right to appeal the value within 60 days of the date the Assessor mailed your Notice of Value, if you disagree with the value."

[Valley Native]

Originally Posted by LookingatFL

How does property tax work in Maricopa County. From my research I see that it will be based on a percentage of the purchase price multiplied by the mil rate.

If I buy a home that needs renovation for a cheaper price and then renovate it, will the renovations increase my property tax the next year? In other words, if I buy a home that is already fixed up, and a home that I have to renovate, assuming the homes were twins of each other, will my property taxes be the same for both homes in the 2nd year?

Are you inquiring about property taxes in Maricopa County as a whole, or Sun City specifically? I ask this because there is a noticeable difference: property taxes are much lower in age restricted communities like Sun City because there are no school taxes ... and obviously, this is because there are no school districts due to the fact that there is no need for them. This is a definite plus to residing in a community geared for older adults.

[LookingatFL]

Hi Valley Native. I think my question is about how taxes work on the whole. Because if I buy a house that needs fixing up and I pour money into that house renovating it, I am spending my time and effort to make a nicer home. I would want to have a reason for buying a home that needs fixing up. My reason would be that the property taxes will cost less in the long run because I paid less for the house.

On the other hand, If I buy a home that is in wonderful condition and all I have to do is move in, and I pay more for the home because it is hassle-free, I might be more willing to pay higher property taxes just because I bought a convenient place.

So my question is, theoretically if both houses wind up in exactly the same condition, they are alike in every way, in the second year am I paying the same amount of taxes on both houses? Is the county saying House A and House B are both worth $XXX so they are each going to pay $X property tax because House B was renovated? Or are they saying House A is worth $X and House B is worth $Y because House B cost less to purchase last year and the renovation would not be included in the taxable value?