Welcome

1. ASSESSOR Paul D. Petersen Tax Agent/Attorney Meeting February 26, 2015 Welcome

2. ASSESSOR Paul D. Petersen Introductions • Paul Petersen – Assessor • Elected November 04, 2014 • Started in Office January 2006 • Practicing Adoption Attorney • ASU JD and Undergraduate • DOR Certified Appraiser

3. ASSESSOR Paul D. Petersen Introductions • Armando Chavez – Supervisor • Permits • Appeals • Splits • Ray Bell – Manager • Land • Agricultural • Business Personal Property • Michael Jabri – Manager • Residential • Mobile Homes • Heather Drake – Manager • Commercial

4. ASSESSOR Paul D. Petersen Assessor’s Leadership Team Tim Boncoskey – Chief Deputy Assessor David Boisvert – Chief Appraiser Eric Bails – Chief Technology Officer Lisa Bowey – Litigation Director Tom Rief – Ownership\Mapping Manager Lesley Kratz – Executive Advisor\Special Dis’t\LCV Marci Williams – Internal\Personal Property Audit Manager Allen Zingg – Human Resource Manager Justin Frank– Finance Manager Robert Pizorno – Communications\Legislative Director

5. ASSESSOR Paul D. Petersen Deadline Dates • April 21, 2015 – Appeal Filing Deadline • June 15, 2015 – Incomplete Petitions must be filed directly to SBOE • July 31, 2015– Internal deadline to have completed all meetings • August 14, 2015– Deadline for the Assessor to mail decisions on the appeals

6. ASSESSOR Paul D. Petersen Incomplete Petition Primary Reasons: • Outdated DOR form • Signature(s) missing • Missing Agent Authorization Form • Missing supporting evidence • Parcel was not Noticed • Invalid Parcel/Missing Parcel • Duplicate appeal (procedure is to accept the first one entered into the appeals system)

7. ASSESSOR Paul D. Petersen Petition for Assessor Review ARS 42-16051 “An owner of property that in the owner’s opinion has been valued too high may file a petition with the Assessor” • Petition shall state: • Owner’s opinion of value • Basis of valuation approach: • Market – must include one (1) comparable property in the same geographic area as the subject • Cost – must include cost to build plus land value • Income – must include income and expense data relating to the property

8. ASSESSOR Paul D. Petersen Income Approach Pursuant to ARS 42-16052, petition based on the income approach shall include: • Income and expense data relating to the property for the three most recent consecutive fiscal years • Information ending on or before September 30 of the previous year If the income and expense data are not available to the petitioner, the petitioner shall file income and expense data as they become available.

9. ASSESSOR Paul D. Petersen Income Approach If a petitioner uses the income approach to determine valuation, the petitioner shall file a sworn affidavit under penalty of perjury acknowledging the information contained in the petition is true and correct to the best of the petitioner's knowledge. Filing may be submitted by: • Petitioner • Officer of a corporate petitioner • General partner • Designated agent

10. ASSESSOR Paul D. Petersen Multiple Parcel Appeals The petition may include more than one parcel of property if: • Part of the same economic unit according to department guidelines • Owned by the same owner • Have the same use • Appealed on the same basis • Located in the same geographic area • Submitted on a form prescribed by the Department

11. ASSESSOR Paul D. Petersen Multiple Parcel Appeals Different types of property must be filed separately: • Residential • Commercial • Land • Agricultural • Exemptions

12. ASSESSOR Paul D. Petersen Meeting Room Assignments Depot Building (501 W Jackson): • Residential • Exemption • Mobile Home Administration Building (301 W Jefferson, Suite A210) • Commercial • Agricultural/Land

13. ASSESSOR Paul D. Petersen Conclusion • The duties of the Assessor’s office have not changed. • The focus will be on canvassing the county to clean property component characteristics. • The 2016 assessment ratios changed. • Class 2 is at 15% • Class 1 is at 18%

14. ASSESSOR Paul D. Petersen Contacts Paul Petersen, Assessor • petersenp@mail.maricopa.gov • 602-506-3877 David “Beau” Boisvert, Chief Appraiser • boisvertd@mail.maricopa.gov • 602-372-1629 Frankie Woodard, Appeals Coordinator • woodardf@mail.maricopa.gov • 602-506-3080

15. ASSESSOR Paul D. Petersen Questions • Questions asked and emailed will be available on the website: mcassessor.maricopa.gov/category/news

16. ASSESSOR Paul D. Petersen Maricopa County Assessor’s OfficeTax Year 2016 Valuation Overview

17. ASSESSOR Paul D. Petersen Maricopa County Property Types

18. ASSESSOR Paul D. Petersen Tax Year 2016 & 2015 Comparison Full Cash Value Analysis

20. Vacant Land

21. Vacant Land 3% of the 2013 Sales are REO

22. Residential/Condo

23. Residential/Condo

24. 2009 2010 2011 46,165 54,485 52,866 52,866 2008 42,460 42,460 2012 42,460 25,892 25,892 2007 10,998 2013 11,379 11,379 2014 6,302

25. Residential/Condo

27. Commercial

28. Commercial

29. Commercial 9% of the 2009 Sales are REO

30. ASSESSOR Paul D. Petersen Commercial % change by type

31. Apartments

32. Apartments

33. Apartments

34. Apartments

35. ASSESSOR Paul D. Petersen Apartment Median % Change

36. ASSESSOR Paul D. Petersen CAMA Model Overview All remaining property types are valued using the Cost Approach.

37. ASSESSOR Paul D. Petersen Reminders For 2016 • Commercial Cost Sub Market Adjustment • Based on Commercial Market Area and Use Code • Excludes statutorily assessed shopping centers • Excludes exempt government property (9300-9800’s) • Offices > 10,000 sq. ft. have a separate schedule • Hospitals (PUC 211x, 901x) -20% • Data Centers 1507 -15% • Applied to the improvement value only

38. ASSESSOR Paul D. Petersen 2016 Sub Market Adjustments

39. ASSESSOR Paul D. Petersen Questions • Questions asked and emailed will be available on the website: mcassessor.maricopa.gov/category/news Thank you.