FAQs • Santa Cruz County, AZ • CivicEngage

What is the replacement cost method?: Less depreciation - this method is based on how much it would take at today's material and labor costs to replace your property with a similar structure. It is used mostly for commercial buildings or homes that are not typical or are located in a remote area.

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Property Value

If you believe the full cash value on your notice of valuation is higher than actual market value, or the legal class is incorrect according to current use, you will want to file a "Petition for Review," DOR 82130.
Notice of valuation is mailed on March 1. This valuation is used for the next calendar year's tax computations.
Petition for review of real property valuation and the residential petition for review of real property are available to the property owners from March 1st through April 29. Petitions are available from the Assessor's Office.

2. What is the full cash value?: Full cash value for property tax purposes means the value determined as prescribed by statute. If no statutory method is prescribed, full cash value is synonymous with market value. Market value is the estimate of value that is derived annually by using standard appraisal methods and techniques. This value is no longer used in the calculation of taxes.

3. What is the limited value?: Limited property value is the basis for the assessment of property taxes. Limited property value is constrained in the amount by which it can be increased each year and it cannot exceed the full cash value. This value is used in the calculation of all taxes.

4. What is real property?: Real property includes land, buildings, and other improvements on the land.

Tax rates are set by all budget authorities and are separates into 2 types:

Primary rates are set by governmental entities such as counties and cities and towns. They are applied to the "limited value" to determine taxes due. These taxes are used for the basic expenses of government and schools.
Secondary rates are set by special districts, fire districts and bond issues. Usually taxpayers vote for these districts and bonds, so the rates are applied to the full cash value to determine taxes due.

The Assessor is mandated by Arizona State Statutes to value property at its full cash (market) value. There are 3 methods of appraising value:

7. What is sales comparison?: It is also known a market. This method compares your property to other similar properties that have recently been sold. This method is used mostly for homes and land.

8. What is the replacement cost method?: Less depreciation - this method is based on how much it would take at today's material and labor costs to replace your property with a similar structure. It is used mostly for commercial buildings or homes that are not typical or are located in a remote area.

9. What is the income value method?: The income method is based on the income potential of the property. Using operating income and expense data supplied by the owner, the value is determined by capitalizing the potential net income.

10. What is personal property?: For property tax purposes in Arizona, personal property is defined as all types of property except land, buildings or other real property improvements. Taxable personal property includes all assets used in the operation of a business, farm, ranch or residential rental activity. More information is available via aPersonal Property Manual

11. How are my property taxes computed?: The assessed value divided by 100, times the tax rate (set in August of each year), determines property taxes billed in September. The Treasure collects the property taxes.

12. Why is the legal description on my notice of value incomplete?: Due to space limitations, we are unable to use complete legal descriptions. For Assessor purposes, property descriptions may be condensed and/or abbreviated. This description should not be used for transference of property. Please refer to official recorded documents for complete property legal descriptions.