If you own a home or land in Arizona, understanding how your property taxes are calculated and how to protect your property from fraud is essential. Many Arizona homeowners are surprised when their tax bill increases—even when home values appear to be dropping. At the same time, title fraud—particularly with vacant land—is rising at an alarming rate across the state.
In this episode of State 48 Homeowner, we speak with Maricopa County Assessor Eddie Cook and Alysia Moore of Fidelity National Title to uncover what every Arizona homeowner needs to know about property tax assessments and title fraud prevention.
📈 Understanding Arizona Property Valuations: FCV vs. LPV
Each February, Arizona homeowners receive a valuation notice from their county assessor. This notice includes two terms that are often misunderstood:
- Full Cash Value (FCV): The assessor’s estimate of your property’s market value based on recent comparable sales. This number often trails current market values by up to 15%.
- Limited Property Value (LPV): A statutory number calculated using a formula set by Arizona law. This is the value used to calculate your actual property taxes.
Thanks to Arizona’s Proposition 117, your LPV can legally increase up to 5% each year, even if property values decrease. This means that your tax bill may go up, even if your city or town doesn’t raise tax rates.
Pro Tip: If you believe your property was overvalued, you have 60 days from the date your notice was mailed to file an appeal with the Assessor’s Office. No attorney is needed, and the process can be done online.
🎯 Exemptions That Can Lower Your Arizona Property Tax Bill
Assessor Eddie Cook also discussed exemptions that could significantly reduce or stabilize your property taxes:
- Senior Property Valuation Protection
- Widow/Widower Exemption
- Disability Exemption
- Veterans’ Exemption
If you qualify, your valuation could be frozen, helping to make your property taxes more predictable over time. Contact your county assessor’s office or visit their website to check eligibility and apply.
🚨 The Rise of Title Fraud in Arizona — What You Need to Know
Title fraud, especially involving vacant land, is growing in Arizona. Scammers are impersonating legitimate owners—often those living out of state—and fraudulently listing and selling land to unsuspecting buyers.
Common warning signs:
- The seller only communicates via email or text
- The land is priced well below market value
- The seller is “unavailable” for in-person meetings
- The seller requests remote notarization or quick closings
Real-Life Example: At the Klaus Team, we’ve intercepted multiple fraudulent listings after confirming the “seller” wasn’t the actual owner. In each case, we reached out to the rightful owner and helped them sign up for fraud alerts to protect their title.
🛡️ How to Protect Yourself from Title Fraud in Arizona
You can take proactive steps to protect your property:
- Sign up for free title alerts from your county assessor:
- Maricopa County Title Alert
- Pinal County Title Alert
- Verify all wire instructions in person or by calling a trusted number. Never trust wire instructions sent via email.
- Be cautious of deals that seem “too good to be true.” Ask your agent to verify the legitimacy of the seller and listing.
- Stay educated on phishing scams and impersonation tactics targeting property owners.
AUDIO EPISODE:
VIDEO EPISODE: