Museum Flood Valuation Information
The Assessor’s Phased Approach to Museum Flood Valuations
Phase 1: Review all properties that have experienced severe flooding issues in calendar year 2021.
Throughout 2021, the Assessor has been carefully tracking the Museum Flood events. Through this process and in partnership with the City and County Damage Assessment Teams, the Assessor was able to identify specific properties that experienced property damage due to flooding.
By law, the Assessor can re-evaluate property that has been damaged or destroyed, even after the Assessor has closed the property tax roll. Properties that were discovered to have long-term physical and/or structural damage to their home or land due to flooding were contacted by the Assessor regarding their property valuation for the 2021 tax year.
Phase 2: Re-evaluate all properties located within the new Museum Flood boundary for tax year 2023.
For tax year 2023, the Assessor has reassessed all properties within the flood area. For this tax year, the Assessor had the opportunity to re-evaluate property assessments and has pro-actively pursued valuation adjustments for all properties located with the Museum Flood path.
The 2023 valuation adjustments are reflected on the Assessor’s Notice of Value mailed to each property owner on February 4, 2022. Any property valuation adjustments made by the Assessor will be applied to the Full Cash Value.
Phase 3: Continue to monitor the Museum Flood Area for damage and future valuation considerations.
The Assessor’s office will continue to monitor the Museum Flood area and proactively reassess properties if future property damage occurs. A property owner can reach out to the Assessor to report individual property damage. Photos and a description of the damage are incredibly helpful in the reassessment process.
Frequently Asked Questions
Will Flood Damage to My Property Lower My Property Taxes?
Not in all instances. While the Assessor has the authority to make valuation adjustments for damaged property and for future valuation considerations, these adjustments must be made to the Assessor’s Full Cash Value.
In Arizona, all property taxes are calculated using the Limited Property Value. This is due to Proposition 117 that was approved by Arizona voters in November 2012. The Limited Property Value is a statutorily calculated value and represents a percentage of a property’s Full Cash Value. The Limited Property Value is “limited” on how much it can increase each year and it can never be higher than the Full Cash Value.
How is Flood Damage Calculated?
Flood damage for property tax purposes is calculated using a damage assessment process and form created by the Arizona Department of Revenue. This form assists the Assessor’s appraiser by documenting the extent of damage and calculating a revised value for the improvement that has been damaged. Considerations for land value damage are made based on how flooding affects or restricts the use of the land as identified by the land appraiser using standard appraisal methods and techniques.
§ARS 42-15157 states that if the Assessor finds that property has been destroyed, then the Assessor must prorate the value from the date of destruction.
What Type of Damage is Considered for Property Tax Valuation Purposes?
When revaluing property due to damage, the Assessor looks for structural damage to the assessed improvements and/or on-going damage to the land. Generally, debris cleanup will not have an impact to the property value for property tax valuation purposes.
How do I know if my property received a flood discount for Tax year 2023?
Properties that received a flood discount also received a supplemental letter with their 2023 Annual Notice of Value that was mailed by the Assessor on February 4, 2022. A property owner may also contact the Assessor to speak with an appraiser regarding the 2023 flood discount.
How do I contact the Assessor regarding flood valuation for my property?
Please email the Assessor at firstname.lastname@example.org or call the Assessor’s Office at (928) 679-7962. Please allow up to 1 business day for a response to your email or voicemail. Thank you!