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County Assessor releasing tax year 2020 notices of value

Yavapai County Assessor Judd W. Simmons

Yavapai County Assessor Judd W. Simmons

Yavapai County Assessor Judd W. Simmons mailed out nearly 162,000 Notices of Value, Feb. 15, for the tax year 2020, according to a news release. These values have an effective valuation date of Jan. 1, 2019, and will be used to calculate your 2020 tax bill.

The 2020 Notice of Value is the county’s official declaration of Full Cash Value and Limited Property Value Assessments. Please note that only the Limited Property Value will be used to calculate your 2020 property tax bill. By state statute this notice must be mailed before March 1 of the year prior to the tax year. The notice includes values for both 2019 and 2020, which allow all property owners to easily recognize any increase or decrease in assessed value from the previous year.

The median value of Single Family residences has increased from the 2019 Notice to the 2020 Notice by approximately 9 percent, Simmons said. This increase reflects the market increases in value to the existing home inventory. Please note that this increase is in the median (middle) home value and not the mean (average) home value. Median home values reflect the point at which 50 percent of the homes are below this value and 50 percent are above this value.

All property owners should review their Full Cash Value. If you believe it is at or above “Market Value” (what you could sell for in today’s market) then consider filing an appeal. Information on the appeal process is contained on the notice. It should be noted that the Full Cash Value is intended to reflect a value slightly below “Market Value” and only the Full Cash Value can be appealed.

The Assessor’s Office is at 928-771-3220.

Information provided by the Assessor’s Office.

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