Assessor creates videos to educate public on Prop 117
Yavapai County Assessor, Pam Pearsall, has created a short video to assist in educating the public to the processes of the Assessor's Office. This video may be found on the Assessor's website at: www.yavapai.us/assessor/
In the video "Nuts & Bolts (Prop 117)" Pearsall outlines property valuation and how the voter approved Prop 117 legislation effects property values and the process of taxation in Arizona.
On Nov. 6, 2012, the Arizona Property Tax Assessed Valuation Amendment, commonly known as Proposition 117, was approved by voters. This measure limits the annual growth of the Limited Property Value for all parcels where no changes have occurred during that year. This limit became effective for tax year 2015.
Proposition 117 has amended the Arizona Constitution to cap the annual increase in the limited value of real property, used to calculate taxes, to a maximum of 5 percent over the value of the property for the previous year.
This video was designed to help the viewer better understand the sometimes confusing process of property tax assessment.
Please feel free to contact the Yavapai County Assessor's Office with any questions you may have, 928-771-3220.