The Maricopa County Assessor's Office says the median full cash value (FCV) for single-family homes increased 4.38 percent from last year for a median value of $181,300.
The FCV is roughly the amount a homeowner can get for selling his or her property. According to the Assessor's Office, manufactured housing saw the smallest FCV increase at 0.67 percent, while apartments had the largest increase at 11.28 percent.
According to the Assessor's Tax Year 2017 Valuation Overview:
- The FCV for condominiums increased 7.66 percent.
- The FCV for vacant land increased 9.06 percent.
- The FCV for commercial increased 10.4 percent.
The Assessor's Office is sending out 1.57 million valuation notices for tax year 2017. Here's the break down:
- 79 percent are single-family residential.
- 12 percent are vacant land.
- 4 percent are commercial.
- 2 percent are mobile home.
- 2 percent are apartments.
- 1 percent are agricultural.
