Edie Wood, Realtor
Arizona Team Realty
This is the rough explanation of how it works. Each year the state and local municipalities figure out how much money they need, then they ask the tax assessor how much $$ in property values are out there then they figure how much is your share.
If we had a set tax rate, then if your home went down, then your taxes would go down. But the tax rate changes each year to make sure you pay your FAIR SHARE!
Nothing FAIR about it if you ask me.
Support Prop 13 Arizona.