Practitioner + Assessor. (+ Trainee NABERS NZ assessor) PMAG member
Welcome Tax Agent/Attorney Meeting February 26, 2015 ASSESSOR Paul D. Petersen.
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Welcome Tax Agent/Attorney Meeting February 26, 2015 ASSESSOR Paul D. Petersen
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Transcript of Welcome Tax Agent/Attorney Meeting February 26, 2015 ASSESSOR Paul D. Petersen.
Welcome
Tax Agent/Attorney MeetingFebruary 26, 2015
ASSESSORPaul D.
Petersen
Paul Petersen – Assessor
oElected November 04, 2014
oStarted in Office January 2006
oPracticing Adoption Attorney
oASU JD and Undergraduate
oDOR Certified Appraiser
ASSESSORPaul D.
Petersen
Introductions
IntroductionsArmando Chavez – Supervisor
o Permits o Appeals o Splits
Ray Bell – Managero Land o Agriculturalo Business Personal Property
Michael Jabri – Managero Residentialo Mobile Homes
Heather Drake – Managero Commercial
ASSESSORPaul D.
Petersen
Tim Boncoskey – Chief Deputy Assessor
David Boisvert – Chief Appraiser
Eric Bails – Chief Technology Officer
Lisa Bowey – Litigation Director
Tom Rief – Ownership\Mapping Manager
Lesley Kratz – Executive Advisor\Special Dis’t\LCV
Marci Williams – Internal\Personal Property Audit Manager
Allen Zingg – Human Resource Manager
Justin Frank– Finance Manager
Robert Pizorno – Communications\Legislative Director
ASSESSORPaul D.
Petersen
Assessor’s Leadership Team
o April 21, 2015 – Appeal Filing Deadline o June 15, 2015 – Incomplete Petitions
must be filed directly to SBOEo July 31, 2015– Internal deadline to have
completed all meetingso August 14, 2015– Deadline for the
Assessor to mail decisions on the appeals
ASSESSORPaul D.
Petersen
Deadline Dates
Primary Reasons:o Outdated DOR form
o Signature(s) missing
o Missing Agent Authorization Form
o Missing supporting evidence
o Parcel was not Noticed
o Invalid Parcel/Missing Parcel
o Duplicate appeal (procedure is to accept the first one entered into the appeals system)
ASSESSORPaul D.
Petersen
Incomplete Petition
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”
o Petition shall state:o Owner’s opinion of valueo Basis of valuation approach:
o Market – must include one (1) comparable property in the same geographic area as the subject
o Cost – must include cost to build plus land value
o Income – must include income and expense data relating to the property
ASSESSORPaul D.
Petersen
Pursuant to ARS 42-16052, petition based on the income approach shall include:
o Income and expense data relating to the property for the three most recent consecutive fiscal years
o 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.
ASSESSORPaul 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:o Petitionero Officer of a corporate petitionero General partner o Designated agent
ASSESSORPaul D.
Petersen
Income Approach
The petition may include more than one parcel of property if:
o Part of the same economic unit according to department guidelines
o Owned by the same ownero Have the same useo Appealed on the same basiso Located in the same geographic
area o Submitted on a form prescribed by
the Department
ASSESSORPaul D.
Petersen
Multiple Parcel Appeals
Different types of property must be filed
separately:
oResidentialoCommercialo LandoAgriculturalo Exemptions
ASSESSORPaul D.
Petersen
Multiple Parcel Appeals
Depot Building (501 W Jackson):o Residentialo Exemptiono Mobile Home
Administration Building (301 W Jefferson, Suite A210)o Commercialo Agricultural/Land
ASSESSORPaul D.
Petersen
Meeting Room Assignments
• The duties of the Assessor’s office have not changed.
• The focus will be on canvassing the county to clean property component characteristics.
• The 2016 assessment ratios changed.– Class 2 is at 15%– Class 1 is at 18%
ASSESSORPaul D.
Petersen
Conclusion
Paul Petersen, Assessor• [email protected]• 602-506-3877
David “Beau” Boisvert, Chief Appraiser• [email protected]• 602-372-1629
Frankie Woodard, Appeals Coordinator• [email protected]• 602-506-3080
ASSESSORPaul D.
Petersen
Contacts
Questions
• Questions asked and emailed will be available on the website:
mcassessor.maricopa.gov/category/news
ASSESSORPaul D.
Petersen
ASSESSORPaul D.
PetersenMaricopa County Assessor’s Office
Tax Year 2016 Valuation Overview
Maricopa County Property Types
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ASSESSORPaul D.
Petersen
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ASSESSORPaul D.
Petersen
Median Values FCV % LPV %
FCV 2016 FCV 2015 Change Change
VACANT LAND 31,500 27,900 12.9% 4.30%
SINGLE FAMILY RESIDENTIAL 172,300 161,500 6.69% 4.93%
CONDOMINIUM 100,100 91,000 10.00% 5.00%
APARTMENTS 146,100 128,800 13.43% 5.00%
COMMERCIAL 434,100 381,000 13.94% 3.24%
MANUFACTURED HOUSING 59,000 56,300 4.80% 3.75%
All exempt property, new construction, additions, alterations or any change in use have been removed from this analysis
Tax Year 2016 & 2015 ComparisonFull Cash Value Analysis
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Vacant Land
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Vacant Land
3% of the 2013 Sales are REO
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Residential/Condo
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Residential/Condo
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42,460
52,866
42,460
25,892
11,379
10,998
42,460
52,866 54,485 46,165
25,892
11,379
6,302
2007
2008
2009 2010 2011
2012
2013
2014
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Residential/Condo
97.2% 2.8%
63.5% 36.5%
49.6% 50.4%
60.4% 39.6%
60.9% 39.1%
86.7% 13.3%
95.4% 4.6%
96.4% 3.6%
SYEAR2007
2008
2009
2010
2011
2012
2013
2014
No Yes
Reo
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Commercial
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Commercial
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Commercial
9% of the 2009 Sales are REO
ASSESSORPaul D.
Petersen
Commercial % change by type
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Apartments
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Apartments
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Apartments
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Apartments
Apartment Median % Change
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ASSESSORPaul D.
Petersen
FCV %
fcv2016 fcv2015 Change
MULTI-FAMILY 13 AND UP 6,283,800 5,498,700 14.28%
2 TO 12 UNIT APARTMENTS 134,650 118,700 13.44%
Total 146,100 128,800 13.43%
Median Values
Type
CAMA Model Overview
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All remaining property types are valued using the Cost Approach.
ASSESSORPaul D.
Petersen
PROPERTY TYPE MODEL TYPE
Residential Market
Condo Market
Vacant Land Market
2-12 Unit Apartments Market
13 + Unit Apartments Income
Hotels/Resorts > 200 Rooms Income
Commercial Condo Market
Warehouse/Industrial Market
Offices < 22,000 SF Market
Reminders For 2016• 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) -20%– Data Centers 1507 -15%
– Applied to the improvement value only
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ASSESSORPaul D.
Petersen
2016 Sub Market Adjustments
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ASSESSORPaul D.
Petersen
Type Market Sub Mkt AdjustmentRetail All -10%Medical All -35%Offi ce All -40%Remaining Cost All -30%
Questions
• Questions asked and emailed will be available on the website:
mcassessor.maricopa.gov/category/news
Thank you.
ASSESSORPaul D.
Petersen
