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Welcome

ASSESSOR Paul D. Petersen. Tax Agent/Attorney Meeting March 13, 2014. Welcome. ASSESSOR Paul D. Petersen. Introductions – New Roles. Paul Petersen – Assessor Appointed August 19, 2013 DOR Certified Appraiser Started in Office January 2006 Attorney ASU Graduate. ASSESSOR

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Welcome

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  1. ASSESSOR Paul D. Petersen Tax Agent/Attorney Meeting March 13, 2014 Welcome

  2. ASSESSOR Paul D. Petersen Introductions – New Roles • Paul Petersen – Assessor • Appointed August 19, 2013 • DOR Certified Appraiser • Started in Office January 2006 • Attorney • ASU Graduate

  3. ASSESSOR Paul D. Petersen Introductions – New Staff Robert Pizorno – Communications Director Michael Combrink – Legislative Liaison Eric Bails– Chief TechnologyOfficer

  4. ASSESSOR Paul D. Petersen Introductions – New Roles • Tom Rief – Manager • Splits Mapping • Ownership • Deeds • Armando Chavez – Manager • Personal Exemptions • Public Assistance • Permits • Appeals • Splits • Organizational Exemptions • Senior Valuation Protections

  5. ASSESSOR Paul D. Petersen Introductions – New Roles • Socorro Candelaria – Manager • Industrial/Warehouses • Hospitals • Hotels • Resorts • Retail • Shopping Centers • Business Personal Property/IPR • Cathe Cuneo – Manager • Canvassing • Agriculture • Land • Mobile Homes

  6. ASSESSOR Paul D. Petersen Introductions – New Roles • Diane Skidmore – Manager • Apartments 13 & Up • Nursing Homes • Convenience Stores • Mini Storage • Restaurants • Offices • Miscellaneous Commercial

  7. ASSESSOR Paul D. Petersen Management Team Tim Boncoskey – Chief Deputy Assessor David Boisvert – Chief Appraiser Lesley Kratz – Senior Advisor Tim Holland – Residential Manager Lisa Bowey – Litigation Director Allen Zingg – Human Resource Manager Justin Frank– Budget Analyst

  8. ASSESSOR Paul D. Petersen Date Deadlines • February 21, 2014 – 2015 Notice of Values Mailed • April 22, 2014 – Appeal Filing Deadline • June 16, 2014 – Incomplete Petitions must be filed directly to SBOE • August 15, 2014– Deadline for the Assessor to mail decisions on the appeals

  9. ASSESSOR Paul D. Petersen Please no Highlighted Areas on the Appeal Forms

  10. ASSESSOR Paul D. Petersen Incomplete Petition Primary Reasons: • Outdated DOR form • Signature(s) missing • Electronic signatures will be accepted • Missing Agent Authorization form • Missing supporting evidence • Parcel was not noticed • Invalid Parcel/Missing Parcel • Duplicate appeal (procedure is to accept the first one entered into the appeals system)

  11. ASSESSOR Paul D. Petersen Petition for Assessor Review ARS 42-16051 “An owner of property that in the owner’s opinion has been valued too high may file a petition with the Assessor” • Petition shall state: • Owner’s opinion of value • Basis of valuation approach: • Market – must include one (1) comparable property in the same geographic area as the subject • Cost – must include cost to build plus land value • Income – must include income and expense data relating to the property

  12. ASSESSOR Paul D. Petersen Income Approach Pursuant to ARS 42-16052, petition based on the income approach shall include: • Income and expense data relating to the property for the three most recent consecutive fiscal years • Information ending on or before September 30 of the previous year If the income and expense data are not available to the petitioner, the petitioner shall file income and expense data as they become available.

  13. ASSESSOR Paul D. Petersen Income Approach If a petitioner uses the income approach to determine valuation, the petitioner shall file a sworn affidavit under penalty of perjury acknowledging the information contained in the petition is true and correct to the best of the petitioner's knowledge. Filing may be submitted by: • Petitioner • Officer of a corporate petitioner • General partner • Designated agent

  14. ASSESSOR Paul D. Petersen Multiple Parcel Appeals The petition may include more than one parcel of property if: • Part of the same economic unit according to department guidelines • Owned by the same owner • Have the same use • Appealed on the same basis • Located in the same geographic area • Submitted on a form prescribed by the Department

  15. ASSESSOR Paul D. Petersen Meeting Room Assignments Depot Building (501 W Jackson): • Residential • Exemption Administration Building (301 W Jefferson, Suite A210) • Commercial • Agricultural/Land • Mobile Home

  16. ASSESSOR Paul D. Petersen Maricopa County Assessor’s OfficeTax Year 2015 Valuation Overview

  17. ASSESSOR Paul D. Petersen Maricopa County Property Types

  18. ASSESSOR Paul D. Petersen Tax Year 2015 & 2014 Comparison Full Cash Value Analysis

  19. ASSESSOR Paul D. Petersen

  20. ASSESSOR Paul D. Petersen Vacant Land

  21. ASSESSOR Paul D. Petersen Vacant Land 41% of the 2010 Sales are REO 34% of the 2011 Sales are REO 9% of the 2012 Sales are REO 3% of the 2013 Sales are REO

  22. ASSESSOR Paul D. Petersen Residential/Condo

  23. ASSESSOR Paul D. Petersen Residential/Condo

  24. ASSESSOR Paul D. Petersen 2007: 10,998 46,165 2008: 42,460 2009: 52,866 2010: 54,485 42,460 2011: 46,165 2012: 25,892 25,892 2013: 11,379 10,998

  25. ASSESSOR Paul D. Petersen Residential/Condo

  26. ASSESSOR Paul D. Petersen Residential

  27. ASSESSOR Paul D. Petersen Condo

  28. ASSESSOR Paul D. Petersen Commercial

  29. ASSESSOR Paul D. Petersen Commercial

  30. ASSESSOR Paul D. Petersen Commercial 9% of the 2009 Sales are REO

  31. ASSESSOR Paul D. Petersen Commercial % change by type

  32. ASSESSOR Paul D. Petersen Apartments

  33. ASSESSOR Paul D. Petersen Apartments

  34. ASSESSOR Paul D. Petersen Apartments

  35. ASSESSOR Paul D. Petersen Apartments 32% of the 2010 Sales are REO 31% of the 2011 Sales are REO 7% of the 2012 Sales are REO 2% of the 2013 Sales are REO

  36. ASSESSOR Paul D. Petersen Apartments Median % Change

  37. ASSESSOR Paul D. Petersen CAMA Model Overview All remaining property types are valued using the Cost Approach

  38. ASSESSOR Paul D. Petersen Reminders For 2015 • 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 sq ft have a separate schedule • Hospitals (PUC 211x, 901x) -30% • Data Centers 1507 -25% • Applied to the improvement value only

  39. ASSESSOR Paul D. Petersen Commercial Market Areas

  40. ASSESSOR Paul D. Petersen Commercial Market Areas

  41. ASSESSOR Paul D. Petersen Proposition 117 What does this mean? To Values To Taxes To Taxpayers

  42. ASSESSOR Paul D. Petersen Brief Summary • Market exploded from tax year 2007 - 2009 • Bubble burst in tax year 2010 and continued downward spiral through tax year 2013 • The tax formula did not change which caused many to see an increase in property taxes • The public became frustrated with the system

  43. ASSESSOR Paul D. Petersen Prop 117 Changes – Value • Limited Property Value can only increase to a maximum of 5% from the previous year, excluding new construction. • Exceptions to Prop 117 • Centrally Valued Properties • Business Personal Properties • Senior Valuation Protection (freezes LPV) • New Construction, Splits, Additions, Demolitions

  44. ASSESSOR Paul D. Petersen Prop 117 Changes – Taxes • The property taxes will still be broken into the two categories: Secondary and Primary • Secondary/Primary taxes will use the Limited Property Value in the calculation • No change to the calculation of the levies or tax rates

  45. ASSESSOR Paul D. Petersen Prop 117 Changes – Taxpayer • Easier to explain when market conditions fluctuate • Does not mean taxes will be limited to a 5% increase • Taxpayers need to be aware of changes in a taxing jurisdictions budget

  46. ASSESSOR Paul D. Petersen Valuation Trends Prop 117 Begins Prop 117 Begins

  47. ASSESSOR Paul D. Petersen Conclusion • The duties of the Assessor’s office have not changed • The Office anticipates that there will be less appeals • The focus will be on canvassing the county • The tax formulas have not changed as there is still a primary and a secondary tax

  48. ASSESSOR Paul D. Petersen Contacts Paul Petersen, Assessor • petersenp@mail.maricopa.gov • 602-506-3877 David “Beau” Boisvert, Chief Appraiser • boisvertd@mail.maricopa.gov • 602-372-1629 Armando Chavez, Valuation Relief Manager • chavezm006@mail.maricopa.gov • 602-506-5727

  49. ASSESSOR Paul D. Petersen Questions • Questions asked and emailed will be available on the website: • mcassessor.maricopa.gov/category/news

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