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Updated over 4 years ago on . Most recent reply
Scottsdale/Phoenix Property Tax
I'm looking to get a bit more familiar with the Phoenix market. Having a hard time understanding how property taxes work in Arizona and in particular the Phoenix/Scottsdale areas. Compared to California they seem to be quite convoluted. Can someone please answer these questions and provide some more color on AZ property taxes?
1) Is a property reassessed on every sale to a new market value or does it maintain the previous assessed value?
2) What is the actual property tax rate in Phoenix/Scottsdale for a multifamily property? I'm finding a lot of information about primary/secondary taxes, FPV, LPV, etc but no clear number to describe what I can expect as an operating expense.
3) Is there a limit on how much property taxes can increase per year?
Thanks in advance!