1. Single Year Valuation Cycle Arizona Association of Assessing Officers

2. Arizona’s Current System  March 1, 2015 NOV  September, 2016 Taxes Paid  June 2013- May 2014 Data Collection

3. Data Tax Bill = 3 ½ Years

4. Consequences  Negative consequences of the dual year valuation system:  Inability to respond to the market  Housing Market Crash 2008  Taxpayer confusion  Inaccurate data (old data)

5. Cont.  Notice Of Change  Frustrating for property owners  “Second bite”

6. Single Year Cycle  February 1, 2015 NOV  September 2015, taxes paid  June 2013-July 2014 Data Collection

7. Data Tax Bill 1 ½ Years

8. Benefits  If this system would have been in place, properties would have received valuation relief in February 2009.

9. More Accuracy  With Data collected closer to the tax bill, the values are more accurate when compared to current market.  Benefits in an up and down market.  Proposition 117

10. Repeals the Notice of Change  No longer needed in a one year system.

11. Simpler, Straightforward System  You receive your valuation, and tax bill within the same year.