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2025 Notices of Value Mailed
February 28, 2024
MARICOPA COUNTY, Ariz. (Feb. 23, 2024) - The Maricopa County Assessor's Office is dispatching Notices of Value to more than 1.7 million property owners this week, about 20 thousand more than last year. These Notices are for the 2025 tax year as propert...
Read more2025 Notices of Value Mailed
MARICOPA COUNTY, Ariz. (Feb. 23, 2024) - The Maricopa County Assessor's Office is dispatching Notices of Value to more than 1.7 million property owners this week, about 20 thousand more than last year. These Notices are for the 2025 tax year as property values in Arizona are set a full year ahead to allow for an extensive appeal process.
In a marked departure from the trend of the past decade, the median full cash value (FCV) on many property types has experienced a decrease. Manufactured housing saw the largest FCV decrease at -6.9%. Commercial properties were one of the only property types to see an increase in FCV with a gain of 2.3%. Meanwhile, the median limited property value (LPV), the value used for property tax purposes, continued to rise for all property types.
This shift in property values is attributed to the combined impact of Proposition 117 and the dynamic nature of the real estate market.
Since going into effect in 2015, voter-approved Proposition 117 has governed how LPV is calculated. If there are no significant changes to the property or how it is used, the LPV can increase by up to 5% but never surpass the FCV. 95% of all Maricopa County properties saw the standard LPV increase of 5%.
“We are committed to providing fair and equitable valuations that reflect the ever-changing dynamics of the real estate market,” said Maricopa County Assessor Eddie Cook. “The simultaneous decrease in median full cash value and increase in limited property value demonstrate the nuanced nature of our assessments."
Property owners have sixty days from the mailing date printed on their Notice to file an administrative appeal with the Assessor’s Office if they believe their property has been improperly valued or classified.
The Maricopa County Assessor's Office encourages property owners to review their Notices of Value and reach out with any questions or concerns. Online resources are available to assist property owners in understanding the valuation process, what information can be appealed, and the factors influencing their property values. They can also contact our office by calling 602.506.3406 or emailing ASR.PA@maricopa.gov.
2025 NOV Frequently Asked Questions (FAQs)