It’s that time of year again…Did you get your property tax statement?
Every October we get calls from worried homeowners that receive their tax statement. They have questions ranging from:
1. Why is my property showing that it’s worth less than I paid for it?
2. Why did I get a bill? My mortgage company is supposed to pay for this?
3. How do I read this tax statement?
4. Where does the money go?
Any plenty of other valid questions. We’re happy to answer some of the questions. For instance, showing a lower value on your tax statement is not a BAD thing. Assessed value is not always equal to what you may deem as current market value.
This is a statement..not a bill and is informational only. So please always check with your mortgage company to question whether they are paying the taxes directly.
For answers for other questions, please feel to visit http://treasurer.maricopa.gov/
Pages/LoadPage?page=TaxBill . They have information on how to read your tax statement, to who can qualify for reduced tax rates, and more.
If there are any further real estate questions that we can answer for you, please feel free to reach out to The Garcia Group at Essential Properties, Inc. at602.796.2873.