Housing boom: Some Maricopa County assessments increased 28% for 2024
Wed, Mar 15, 2023 12:21 PM
By by Cameron Arcand, The Center Square
(The Center Square)— Overall median property values increased in Maricopa County, with manufactured homes particularly seeing an uptick in worth.
A swath of property owners in the county were mailed their Notices of Value for the 2024 tax year at the end of February. These assessments help determine the taxable Limited Property Value.
“Our team assesses every parcel and property with our core values of fairness, equity, transparency, and efficiency,” Maricopa County Assessor Eddie Cook said in a statement. “We serve the nation’s fourth largest and often fastest growing county but make it a daily priority to provide best-in-class service. This is especially apparent in my Office’s commitment to innovate and embrace new technology.”
The statement said there was a 28.5% value hike for manufactured homes compared to the 2023 tax year. Manufactured homes are typically seen as an affordable housing alternative to traditional single-family homes, especially for seniors and those who are lower income.
As for single-family homes, the assessor said their value has gone up overall over the past 11 years, including 2024, but did slow between the 2023 and 2024 assessments.
If someone thinks their property has been appraised incorrectly, the office they should file an appeal with the county by April 25. There were over 1.6 million notices sent out, and the office said there were about 26,000 more than last year.
An increase in property values in the county is not surprising, given the recent population growth in the region. For those looking to buy a home in Maricopa County, the median sale price as of January is $437,431, according to RedFin. The sale price is a 4.2% decrease from the year before, and there’s a nearly 40% decrease in people buying homes altogether year over year, RedFin adds.