In 2012 the voters of Arizona passed Proposition 117 which amended the Constitution of Arizona, Article IX, Section 18 relating to property tax assessed valuation.
The proposition, which takes effect in tax year 2015, set a limit on the annual percentage increase in limited property value used to determine property taxes to no more than 5% above the previous year and established a single limited property value as the basis for determining all property taxes. However in certain circumstances, limited property value can increase by more than 5% as prescribed in Arizona Revised Statues Title 42, Chapter 13, Article 7; Limitation on Valuation Increases. In accordance with A.R.S. §§ 42-15101 the County Assessor is required to notify the owner of record of property that is valued by the Assessor as to the property’s full cash and limited property value to be used for assessment purposes.
If the property owner disagrees with the value or legal classification they may file and appeal with the Assessor’s Office. Only the Full Cash Value or Legal Class can be appealed.