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Board-of-Superssmall.jpg?Sticker shock? is what Yavapai County residents experienced when they opened up their notices of value, Yavapai County Assessor Victor Hambrick said.
By Mike Cosentino
Larson Newspapers
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?Sticker shock? is what Yavapai County residents experienced when they opened up their notices of value, Yavapai County Assessor Victor Hambrick said.

In the notices mailed out Feb. 21, many residents saw more than $50,000 and, in some cases, more than $200,000 increases in the full cash values of their homes.

Hambrick has been going around the county explaining the notices.

?A notice of value does not mean a tax increase,? he said.

 Board-of-Superslarge.jpg  
 Mike Cosentino/Larson Newspapers  

Hambrick said that there are lots of restrictions on how much taxes can increase but values are determined according to a clear formula provided by the Arizona Department of Revenue.

?We have to assess at 74 to 90 percent of market value,? he said. ?We shoot for around 76 percent.?

Hambrick said the state would determine the values if his office went above or below the parameters on average.

?The current values are based on the market from January 2005 to June 2006 when the market exploded. We have not seen those property values drop. Volume [of sales] has dropped but home prices have not,? Hambrick said.

The next time the values will be figured they will be based on the market in 2006 and 2007. Those notices will be sent out in 2009, he said.

?There are lots of restrictions on how much we can tax property. For example, on the primary tax [assessments], we can?t levy more than 1 percent of the limited value,? he said.

The limited value is the lower figure on the notices of value that the department mails out.

Secondary tax assessments are voter-determined, including things like school bonds.

The deadline for appeals is Tuesday, April 24.

Hambrick will make a brief statement at Sedona Verde Valley Republican Men?s Club meeting at noon, Thursday, April 5. He will be doing a complete PowerPoint presentation at the organization?s meeting on Thursday, May 3.

Hambrick?s presentation includes a graphic that shows property values increasing and taxes either decreasing or remaining level.

The assessor does not set tax rates or collect taxes. The tax rates are set by the Yavapai County Board of Supervisors, and the taxes are collected by the Yavapai County Treasurer?s Office.

The average sales price of a home in Yavapai County

is $259,500. The average home in the county is 1,510 square feet.


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