Residential Increases Homeowners Will See This Week are in Some Cases Breathtaking...

Notices to reflect home-values hikes, from the Arizona Republic, reports that more than 1.3 million notices of property values will be hitting Maricopa County mailboxes this week and they will mean higher property taxes with the higher home values that occurred since the last valuations two years ago. The county's median home value is more than 50 percent higher than two years ago. County Assessor Keith Russell said that the residential increases homeowners will see this week are in some cases breathtaking. Although higher taxes are likely, a more valuable home doesn't necessarily mean a costlier tax bill. "As long as the taxing districts don't spend more money than the revenues from new construction, most people's tax bills will stay about the same," said county Treasurer David Schweikert.

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