Real estate value is continuing to grow in Maricopa County, as the Assessor’s Office is sending out 1.6 million valuation notices for tax year 2019.
Median values in all property classes have nearly recovered from the recession a decade ago. This is the sixth year in a row that median values for single-family homes have increased.
Ryan Boyd, communications manager for the Maricopa County assessor, said the post-recession rebound has been more reasonable in recent years.
“Most of the growth is pretty moderate. If you look back between 2006 and 2007, single-family residential shot up 51.78 percent. Between 2018 and 2019, it shot up only 7.16 percent," Boyd said.
Boyd added the median full cash value for a single-family residence is about $214,000. Median values for commercial property grew 8.2 percent, bringing 2019 median values to just over $546,000.
Property owners have until April 24 to appeal their valuation directly with the Assessor’s Office.
