A Notice of Value is an official document prepared by the Assessor’s Office that informs property owners of the property’s legal classification, Full Cash Value (FCV), Limited Property Value (LPV), Assessment Ratio, and assessed value for both the current and prior valuation year.

The Assessor’s Office mails these annual notices with mailing schedules that vary throughout the year depending on property type. Property owners may also choose to receive their Notice of Value by email when registered for eNotices on our website at enoticesonline.com. Registration requires an authorization code, which can be found on your most recent Property Valuation Notice. Each parcel is assigned a unique authorization code.

If you are unable to locate your eNotice authorization code or have additional questions regarding eNotices, please contact our office at 602-506-3406 or email [email protected]. When emailing, please include the property owner’s name and parcel number. If the sender is not the owner of record, please indicate your relationship to the property owner.

Please note that the Notice of Value is not a property tax statement. The Maricopa County Treasurer’s Office is responsible for calculating and mailing property tax statements, which are issued in September.

In most cases, no action is required. However, if you disagree with your property valuation or believe your property has been incorrectly valued or misclassified, you may file an appeal.

Appeals must be submitted within 60 days or 30 days of the notice date, depending on the property type. Instructions for filing an appeal are available online and on the back of your Property Valuation Notice.

The Limited Property Value (LPV) was established by the Arizona State Legislature to limit large increases in property taxes. The LPV may not exceed the property’s Full Cash Value (FCV) and is <strong>not an appealable value</strong>.

Limitations on increases to the LPV were further defined in 2012, when voters approved Proposition 117. Beginning in 2015, the LPV has been used to calculate both primary and secondary property taxes for the maintenance and operation of school districts, cities, community college districts, and counties, in accordance with A.R.S. § 42-13301.

The LPV is used to calculate property taxes for most properties, with the exception of personal property (excluding mobile homes) and centrally valued properties as identified in A.R.S. § 42-12001, § 42-12002, § 42-12003, § 42-12004, § 42-12005, § 42-12006, § 42-12007, § 42-12010.

Full Cash Value (FCV) is synonymous with market value. For assessment purposes, FCV represents an estimate of market value, subject to conditions unique to mass appraisal. This value applies to the tax year indicated at the top of your Property Valuation Notice.

The FCV reflects market value unless a different value is required by statute, and it is the appealable value. FCV represents the combined value of the land and any improvements. When no statutory formula applies, FCV is determined using standard appraisal methods and techniques.

Proposition 117 is a voter-approved initiative passed in the 2012 general election (A.R.S. § 42-13301)which limits the increase of the LPV to 5% per year.

The exception to this limitation is when a property owner has added or deleted improvements to the property. (A.R.S § 42-13302; § 42-13304).

Yes, if the spread between FCV and LPV is large enough, even in a declining market, the FCV may be reduced to reflect market conditions while the LPV may continue to rise. However, the LPV can never exceed FCV (A.R.S. § 42-13301).

Not necessarily. Your property tax amount will be determined when all the taxing jurisdictions calculate the amount of property tax levy. The total levy for each jurisdiction is shared by all taxpayers, including businesses, in the jurisdiction. If all property values drop within a jurisdiction, yet the tax levy share of the jurisdiction's operating budget remains the same, taxpayers may still pay the same tax dollar amount (or share of the burden) into each jurisdiction to cover the levy.

Taxes may also increase due to new bonds or budget overrides even when values decrea

Depending on property type, real property valuation notices receive on or before March 1 of every year is for the upcoming year. A.R.S. § 42-15101 requires the Assessor to notice a year in advance of the actual tax bill. Personal property valuation notices mailed on or before August 30 of every year is for the current year per A.R.S. § 42-19006.