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Maricopa County Assessor’s OfficeTax Year 2014 Valuation Overview
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2Maricopa County Property Types
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FCV % LPV %FCV 2014 FCV 2013 Change Change
VACANT LAND 15,800 15,884 -0.53% 0.00%SINGLE FAMILY RESIDENTIAL 127,000 109,600 15.88% 10.00%CONDOMINIUM 70,500 62,000 13.71% 10.00%APARTMENTS 101,000 70,100 44.08% 12.53%COMMERCIAL 350,500 359,000 -2.37% -2.91%MANUFACTURED HOUSING 50,100 47,785 4.85% 4.52%
Median Values
All exempt property, new construction, additions alterations or any change in use have been removed from this analysis.
Tax Year 2013 & 2014 ComparisonFull Cash Value Analysis
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Vacant Land
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Vacant Land
44% of the 2009 Sales are REO36% of the 2011 Sales are REO
42% of the 2010 Sales are REO
36% of the 2011 Sales are REO
11% of the 2012 Sales are REO
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Residential/Condo
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Residential/Condo
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2007
10,998
2008
42,460
200952,866
201054,485
2011
46,165
2012
25,892
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Residential/Condo
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Residential
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Condo
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14Commercial
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Commercial
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Commercial
9% of the 2009 Sales are REO20% of the 2010 Sales are REO36% of the 2011 Sales are REO17% of the 2012 Sales are REO
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17Commercial % change by type
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Apartments
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Apartments
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Apartments
71% of the 2009 Sales are REO
44% of the 2010 Sales are REO71% of the 2009 Sales are REO44% of the 2010 Sales are REO40% of the 2011 Sales are REO
44% of the 2010 Sales are REO40% of the 2011 Sales are REO6% of the 2012 Sales are REO
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Apartments
34% of the 2010 Sales are REO
31% of the 2011 Sales are REO
9% of the 2012 Sales are REO
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Apartments
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CAMA Model Overview
All remaining property types are valued using the Cost Approach
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Reminders For 2014• Commercial Cost Sub Market Adjustment
– Based on Commercial Market Area and Use Code– Excludes statutorily assessed shopping centers– Excludes exempt government property (9300-9800’s)
– Offices > 10,000 sqft have a separate schedule– Hospitals (Puc 211x, 901x) -35%– Data Centers 1507 -30%
– Applied to the improvement value only
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Commercial Market Areas
Market Area Adjustment Commercial type
1 -30% Retail Excluding 1130’s (strip)1 -45% Remaining CM Cost2 -40% Retail Excluding 1130’s (strip)2 -45% Remaining CM Cost3 -30% Retail Excluding 1130’s (strip)3 -45% Remaining CM Cost
4 -30% Retail Excluding 1130’s (strip)
4 -45% Remaining CM Cost5 -40% Retail Excluding 1130’s (strip)5 -45% Remaining CM Cost6 -40% Retail Excluding 1130’s (strip)
6 -45% Remaining CM Cost
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Commercial Market Areas
Market Area Sub Mkt. Adjustment Commercial type
1 -30% Retail Excluding 1130’s (strip)1 -45% Remaining CM Cost2 -40% Retail Excluding 1130’s (strip)2 -45% Remaining CM Cost3 -30% Retail Excluding 1130’s (strip)3 -45% Remaining CM Cost
4 -30% Retail Excluding 1130’s (strip)
4 -45% Remaining CM Cost5 -40% Retail Excluding 1130’s (strip)5 -45% Remaining CM Cost6 -40% Retail Excluding 1130’s (strip)
6 -45% Remaining CM Cost
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Thank-you