Flagstaff Taxes Not as Bad as This! |
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Flagstaff and Arizona property taxes are not nearly as high as in many states, but it still may pay to watch your new property assessment, which came out recently. Property taxes are confusing for many reasons. One of those reasons is that when you get the bill next Fall, it will be too late to appeal the amount. Instead, you need to appeal no later than sixty days after your assessment was mailed to you by the Coconino County Assessor. The clock is ticking now for Flagstaff homeowners. Another confusing aspect of the property tax assessment is the “Full Cash Value.” The value, for 2008 assessments, is the average of sales prices reported in the area of your home during the calendar year 2006. In past years, Flagstaff real estate owners enjoyed this lag in prices. This year, it may not be so good since 2006 was the peak of prices for Flagstaff homes. Still, the impact on the taxes you pay may be small even if your assessment goes up since the County Board of Supervisors will adjust the tax rate to account for the higher property values. The “Full Cash Value” is supposed to be about 80% of the average market value of sales in 2006 of comparable homes. Don’t count on there being such an exact correlation between true market value and the value the tax assessor places on your home. If you plan to sell, get a professional market analysis by a Realtor®. The Arizona Daily Sun, Flagstaff’s local newspaper, had a long article about the assessments today, including, in the print version, a table of 2008 assessed valuations by for a long list of Flagstaff neighborhoods. Check your mail now and see how your assessment stacks up! | 
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