During an Arizona file audit in Cochise County, a buyer sees both limited property value and full cash value on Arizona tax information and assumes they always mean the same thing. Which statement should the broker communicate?
Correct Answer
B) limited property value and full cash value are distinct Arizona valuation concepts and should not be treated as automatic synonyms
Under Arizona Department of Revenue property-tax materials, limited property value and full cash value are distinct Arizona valuation concepts and should not be treated as automatic synonyms.
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At Sonoran Valley Realty in Phoenix, a buyer sees both limited property value and full cash value on Arizona tax information and assumes they always mean the same thing. Each of the following statements about ad valorem tax az is generally accurate in Arizona, EXCEPT.
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For Arizona property-tax calculations, a value base of $275,000.00 is multiplied by an assessment ratio of 18%. What assessed value should be used?