Notice of Value
NOTICE OF VALUE Mailing Date: On or Before March 1st Each Year
All property must be valued at Full Cash Value (FCV). Your property also has a Limited Property Value (LPV). Property taxes are calcuated on the LPV. The FCV will continue to appear on the Notices of Value, but it is no longer used to calculate the amount of property tax owed.
The LPV is limited to a 5% increase per year on parcels that have not had a change in the assessment. In cases where a change in the assessment has taken place (for example, an addition to a building, new building construction, Affidavit of Affixture, Affidavit of Unaffixture, altering the property boundaries, or a split or combination of parcels, etc.), the LPV will automatically be re-calculated based on the LPV:FCV ratio of similar properties of the same use and is not limited to a 5% increase.
Property taxes are used for the maintenance and operation of school districts, cities, community college districts, counties, and the state, as well as secondary taxes for bonds, budget overrides, and special districts such as fire, flood control, and other limited purpose districts. The tax rates are set on or before the third Monday of August of each year by the Board of Supervisors, and the property tax statements are mailed out from the Treasurer's office in late September or early October.
The legal class is based on your use of the property.
|Legal||Assessment||Use of Property Class Ratio|
|1||18%||Commercial and/or industrial (2016 Tax Year)|
|2||15%||Vacant land, and all property not included in other classes|
|3||10%||Owner's or Qualified Family Member's Primary Residence|
|4.1||10%||Owner's Nonprimary Residence|
|4.2||10%||Residential Rental (Not a Qualified Family Member)|
If two or more legal class definitions apply to a single property, a combined assessment ratio is computed, and an "M" (mixed use) will appear in the legal class column. The legal description on the face of the Notice of Value may be incomplete due to space limitation. Please notify the Assessor office of any address changes by completing an Owner's Request for Address Change and/or Classification Change Form.
Please be advised that the Legal Class Ratio may change from year to year.
If you believe that your property has been improperly valued or erroneously listed, you may petition the Assessor for review within 60 days of the NOTICE DATE on the front of the Notice of Value. A Petition For Review of Valuation can be obtained from either the Globe or Payson Assessor’s Office or print out the form using the links below mail back before the Appeal deadline printed on the notice.
Mail or email your forms before the appeal deadline to:
Joseph G. Williams
Gila County Assessor
1400 E Ash Street
Globe, AZ 85501