By Kristena Hansen | Phoenix Business Journal
The metro Phoenix housing market has been improving so much that, for the first time in six years, residential properties across Maricopa County will see an increase in assessed valuations for the 2014 tax year, according to a recent statement from the Maricopa County Assessor’s Office.
Single-family residences and condominiums county-wide will see the median full-cash value increase from $102,000 this year to $118,500 next year — a jump of roughly 16 percent, the statement said. While that’s a notable hike, the assessed valuations are still far below the peak in 2008 when the median full-cash value was $220,500.
Specifically, the approximately 1.02 million single-family homes in the county will see a median value of $127,000 next tax year, a 15.88 percent jump from 2013. The nearly 180,000 condos county-wide will see a more modest 13.71 percent rise next year to a median value of $70,500.
Also: Meritage Homes posts strongest revenue since 2008
