By Catherine Reagor | The Arizona Republic
Property tax bills are out for Maricopa County, and most people can expect to see an increase in what they owe this year.
The 2014 property taxes levied are 5.4 percent higher than last year, according to the Maricopa County treasurer. Current property taxes are based on valuations from 2012, when home prices began to climb back from the crash.
Higher property valuations don’t always mean higher taxes. Homeowners’ individual tax bills can vary wildly, even between adjacent neighborhoods, because of differences in taxing districts and tax rates.
Comments by Rose Law Group attorney Evan Bolick, who handles tax appeals: “This highlights the importance for residential owners to monitor the increase in their property values. It is more important now than ever to keep an eye on your home valuation as Proposition 117 acts to cap future increases at 5%.
“Thanks to Prop 117, reductions will last longer and save you more money in the long run. Also, keep in mind that everybody can access the past years’ tax bills on their local assessor’s Websites. Always check to see whether property you are considering purchasing is located in a special tax district, meaning that you pay more taxes. It is best to avoid, or account for, these additional taxes before you buy.
