Assessor Paul D. Petersen

Maricopa County Assessor's Office


Acquisition Cost

  1. The cost of acquiring the property, including the actual cost of the item of the property.
  2. The cost of transporting the property to its present site.
  3. The cost of installing the item of personal paid.


A land measure equal to 43,560 square feet.


Units used to measure the size of a property.

Ad Valorem Tax

Tax levied based on the value of an item. Property tax is an ad valorem tax, which is based on the assessed value of the property.

Ad Valorem Taxation

According to the value of the property.

Adjusted Sale Price

The sale price adjusted, as necessary, for the differences between the comparable and subject properties.


A method of estimating accrued depreciation based on the age of the property and its economic life. Another term is straight line depreciation.

Air Conditioning Type

The primary cooling source for the residence.


A tangible or intangible benefit of real property that enhances its attractiveness or increases the satisfaction of the user, but is not essential to its use. Natural amenities may include a pleasant location near water or a scenic view of the surrounding area; man-made amenities include swimming pools, tennis courts, community buildings, and other recreational facilities.


A numeric system for referring to each parcel of property within the county. (Composed of map books, pages, blocks and parcels.) Also referred to as Assessor's Parcel Number.


The act or process of estimating value; an estimate of value. An analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified real estate.

Appraisal Date

The moment in time for which a valuation is prepared. The date as of which an appraisal is made.

Appraised Value

A professional estimate of the actual value of a property.


An increase in property value, from all causes.

Approaches to Value

Systematic procedures used to derive value indications in real property appraisal. (See also: cost approach, income capitalization approach, sales comparison approach).


Something that has been added or appended to a property and has since become an inherent part of the property. Usually passed with property when title is transferred.

Aquatic Animal

A cultured aquatic wildlife propagated or maintained in an aquaculture facility for distribution or sale. A.R.S. § 3-2901 (3)

Arm's Length Sale

A sale between two unrelated parties, each of whom is reasonably knowledgeable of market conditions and under no undue pressure to buy or sell.

Assessed Value

The monetary amount which a property is entered on the assessment roll for purposes of computing the tax levy. Assessed value equals full cash value multiplied by the assessment ratio.May be higher or lower than market value, or based on an assessment ratio that is a percentage of market value.


The entire process of determining market value, deriving an assessed value, recording that assessed value on the tax roll, and applying the appropriate tax rate to that assessed value to derive the amount of taxes due. "Assessment" also serves the function of official public notification that property has been valued and taxed. By statute, for most property types, an assessment notice is provided to the property owner (or the legal entity responsible for payment of taxes). See A.R.S. § 42-15101. Although the term "assessment" often seems to be used as though it were synonymous with the term "valuation," the two terms refer to distinct and separate concepts.