Arizona - Maricopa home values have been on a steady incline for the past couple years. Our market appears stable with the usual Spring increase in interest.
by Catherine Reagor, The Republic | azcentral.com
Most metro Phoenix homeowners will be happy to learn that their property values climbed again last year, though the increase was smaller than in 2013.
But the impact on taxes is still to come.
New valuations from the Maricopa County Assessor show that the overall worth of Valley houses climbed almost 7 percent last year.
Homeowners can check out their latest property valuation online or wait for it to come in the mail during the next few days. When you click the link and are searching for your home’s valuation, if your address doesn’t come up right away, trying leaving out the direction or street, avenue, place or drive. For example, 120 Central, instead of 120 E. Central Ave.
Assessments are being mailed Friday.
The overall 2014 median value of a Phoenix-area home climbed to $172,300 from $161,500 in 2013, when the median valuation jumped 23 percent.
Maricopa County Assessor Paul Petersen said the latest property valuations are “consistent” with sales prices in the Valley between the summer of 2013 and late 2014. – complete story and video here –
This is a double edged sword, right. It’s great that home values are increasing, but with the increase comes higher property taxes.
So true Troy, but it will still take a long time for us to equal the taxes we were paying in 2006.