I get asked about property taxes quite a bit and the answer isn’t really simple.
Arizona has one of the most convoluted and confusing property tax calculations around. Having said that it’s also amongst the lowest in the nation.
Sedona straddles two Counties, Yavapai and Coconino. Uptown Sedona is Coconino. West Sedona, Village of Oak Creek, Cottonwood, Big Park and Cornville are all in Yavapai. The County seat for Yavapai is Prescott and the County seat for Coconino is Flagstaff.
Three elements are required in property tax calculations.
- Assessments – done by the Assessor
- Legal Class Code – Commercial/rental/owner occupied
- Tax Rate – The taxing jurisdictions – Set their own budgets & rates
Each County has a ‘Tax Bill Estimator’ on their websites. I used the estimator (a spreadsheet actually) to run an estimate for each county.
Example 1 Coconino: Owner occupied dwelling (2009) in Sedona – Coconino County in Tax Area Code 970. Full Cash Value (FCV) of home is $200,000 and Limited Property Value (LPV) is also $200,00. The property is owner occupied. The annual property tax would be $990.72. Source: Coconino County Assessor Office.
Example 2 Yavapai: Owner occupied dwelling (2009) in Sedona – Yavapai County in Tax Area Code 0970. Full Cash Value (FCV) of home is $200,000 and Limited Property Value (LPV) is also $200,00. The property is owner occupied. The annual property tax would be $1300.76. Source: Yavapai County Assessors Office.
