Maricopa County Assessor Phoenix Association of Realtors Keith E. - - PowerPoint PPT Presentation

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Maricopa County Assessor Phoenix Association of Realtors Keith E. - - PowerPoint PPT Presentation

Jan 08, 2024 431 likes •726 views

Maricopa County Assessor Phoenix Association of Realtors Keith E. Russell, MAI ASSESSOR Maricopa County Property Types MOBILE HOME COMMERCIAL 38,237 68,599 AGRICULTURE 3% 4% 11,368 1% VACANT LAND MULTI-FAMILY 207,647 27,555 13% 2%

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Maricopa County Assessor

Keith E. Russell, MAI ASSESSOR

Phoenix Association of Realtors

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Maricopa County Property Types

AGRICULTURE 11,368 1% VACANT LAND 207,647 13% RESIDENTIAL 1,187,138 77% MULTI-FAMILY 27,555 2% COMMERCIAL 68,599 4% MOBILE HOME 38,237 3%

Keith E. Russell, MAI Assessor

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Keith E. Russell, MAI Assessor

County Population FTE Parcel Count Personal Property Accts Avg Parcels/Accts Per FTE FY 10 Budget Avg Budgeted Amt Per Total Parcel/Acct Los Angeles, CA 9,862,049 1489 2,352,255 308,329 1,787 160,162,000 $60.20 Cook, IL * 5,294,664 386 1,830,000 4,741 28,395,495 $15.52 Harris CAD, TX 3,984,349 630 1,542,000 250,000 2,844 65,000,000 $36.27 Maricopa, AZ 3,954,598 322 1,542,155 136,813 5,214 22,816,543 $13.59 Orange, CA 3,010,759 377 897,547 168,208 2,827 33,500,000 $31.43 San Diego, CA 3,001,072 407 978,011 242,741 2,999 52,195,380 $42.76 Kings, NY 2,556,598 107 *** 273,329 29,199 2,827 7,891,788 *** $26.09 Miami-Dade, FL ** 2,398,245 308 892,655 112,917 3,265 30,350,000 $30.18 Dallas CAD, TX 2,412,827 245 799,214 83,078 3,601 21,800,000 $24.71 Queens, NY 2,293,007 125 *** 321,294 24,076 2,763 9,207,086 *** $26.66 King, WA 1,875,519 224 683,192 33,190 3,198 20,018,180 $27.94

*** These numbers reflect their 2007 budget

Nationwide Top Ten Counties Listed By Population

*Due to difference in fiscal year calendar FY10 budget amounts not available. Budget amount listed is for FY09 which runs 12-01-2008 to 11- 31-2009. **Due to difference in fiscal year calendar FY10 budget amounts not available. Budget amount listed is for FY09 which runs 10-01-2008 to 9- 30-2009.

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Keith E. Russell, MAI Assessor

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Keith E. Russell, MAI Assessor

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Keith E. Russell, MAI Assessor

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Keith E. Russell, MAI Assessor

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Keith E. Russell, MAI Assessor

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MARICOPA COUNTY

Preliminary

Tax Year 2010 and 2011 Comparison

Full Cash Value Analysis

Property Type Median Values FCV % FCV 2010 FCV 2011 Change VACANT LAND 37,000 23,500

  • 36.49

SINGLE FAMILY RESIDENTIAL 155,300 131,700

  • 15.20

CONDOMINIUM 117,000 84,500

  • 27.78

APARTMENTS 152,000 100,700

  • 33.75

COMMERCIAL 646,220 488,048

  • 24.48

MOBILE UNITS 74,101 56,239

  • 24.10

All exempt property, new construction, additions, alterations or any change in use have been removed from this analysis. Data used in calculation of median values from 2010 to 2011 has changed and reflects situations such as parcel consolidations, splits, and creation of economic units. This is an ongoing process which reflects market conditions.

Keith E. Russell, MAI Assessor

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Historical Fcv Comparison

50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 500,000 550,000 600,000 650,000 700,000

LAND SFR CONDO APT COMM MANU FCV 2006 FCV 2007 FCV 2008 FCV 2009 FCV 2010 FCV 2011

Keith E. Russell, MAI Assessor

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Vacant Land

Keith E. Russell, MAI Assessor

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Vacant Land

44% of the 2009 Sales are REO

Keith E. Russell, MAI Assessor

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Residential/Condo

Keith E. Russell, MAI Assessor

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80,778 80,804 55,633 37,666 19,153 11,500 17,250 29,000 40,000

2004 2005 2006 2007 2008 2009 2010 2011 2012

Arizona Single Family Permits

  • U. S. Census Bureau and W. P. Carey School of Business

Home Building Hits Bottom in 2009

Keith E. Russell, MAI Assessor

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Arizona Housing Affordable Again

Percent Families That Can Afford Median Priced Home

National Association of Home Builders, Phoenix MSA

20 40 60 80

1995 1997 1999 2001 2003 2005 2007 2009 Keith E. Russell, MAI Assessor

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Residential/Condo

42,150 46,325 2008 2009 10,998 2007

Keith E. Russell, MAI Assessor

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Residential/Condo

Keith E. Russell, MAI Assessor

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Apartments

Keith E. Russell, MAI Assessor

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Apartments

71% of the 2009 Sales are REO

Keith E. Russell, MAI Assessor

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Apartments

26% of the 2009 Sales are REO

Keith E. Russell, MAI Assessor

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Apartments

TA X YEAR 2011 APA RTMENT MEDIA N % CHANGE Median

  • .2670
  • .3387
  • .3338

FLAG MULTI-FAMILY 13 AND UP 2 TO 12 UNIT APARTMENTS Total Percent Change

Keith E. Russell, MAI Assessor

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Commercial

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Commercial

9% of the 2009 Sales are REO

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Commercial % change by type

Median

  • .2542
  • .2669
  • .3455
  • .2696
  • .2801
  • .2697
  • .2734
  • .1542
  • .2842
  • .2801
  • .2797
  • .2478
  • .2729
  • .2826
  • .2353
  • .2769
  • .2318
  • .2801
  • .2948
  • .2867
  • .1887
  • .2509
  • .2735

USE2DIG 04 HOTE L 05 MOTEL 06 RE SORT 10 CONVERTED RE S 11 CONVENIE NCE MARKET 12 S TORE COMBO 13 DE PARTMENT STORE 14 S HOP PING CE NTER 15 OFFICE 16 B ANK 17 S ERVICE S TATION 18 V EHICLE SALE S 20 RE STA URANT 21 MEDICAL 22 RA CE TRACK 25 THEATERS 26 P ARKING FACILITIES 27 CLUBS , LODGES, REC 28 P ARTIALLY COMP LE TE 29 P RIV ATE SCHOOL 30 INDUSTRIAL 37 W AREHOUSE Total Median Percent Change

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Keith E. Russell, MAI Assessor

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Thank You