Arizona Property Valuation Changes 2012 A Must Know!!!

by Jamie Namock on February 21, 2012

The Property Notice of Valuation Arizona home owners receive will not be a postcard this year. Late in February 2012, owners of owner-occupied primary residences and vacation/second homes will receive their valuation notice in the form of a legal-size letter.

Be aware that buried deep in the 214 page “Jobs Bill” HB 2001 signed by Governor Jan Brewer on February 17, 2011, is a requirement for homeowners to sign and send back an affidavit in order to receive The State General Fund Credit.

Homeowners: carefully read any property tax valuation notice received this month and return the affidavit promptly so you don’t lose out on the State Aid Credit you’ve been automatically receiving.

The affidavit must be completed and mailed with the annual Notice of Full Cash Value to the County Assessor within 60 days or your residential property will be reclassified as Class 4 (rental) instead of Class 3 (residential). By signing the affidavit, property owners are swearing that they are the owner- occupant and eligible for the state aid property tax credit.

If the affidavit is not returned, the state aid credit, which goes to area schools, will be paid by you, the property owner and your property taxes will go up by as much as $600!

Click below to access HB 2001 Jobs Bill in its entirety. Look for Section 42-12052 (pg. 148) and Section 42-15103 (pg. 155) – www.azleg.gov

{ 1 comment… read it below or add one }

Tammy B. 02.22.12 at 9:01 pm

Thank you for the info. Keep it coming!!

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