Glossary · Thresholds & Valuation
Notice of Value
In short
The annual card the assessor mails an owner. It carries two values side by side, and only one of them is the alteration threshold denominator.
In full
Before March 1 each year the county assessor notifies each owner of record — or a purchaser under a deed of trust or agreement of sale — of the property's full cash value and its limited property value, if applicable, to be used for assessment purposes. The notice is in writing, mailed, delivered by common carrier, or transmitted electronically at the taxpayer's request.
Two figures, one document, nothing on it labeling which one a contractor needs. They routinely differ by a material amount, because limited property value grows by five percent a year off the prior year's limited value while full cash value tracks the market. Limited property value may never exceed full cash value, so in a rising market it runs below.
Full cash value is the one. ADOR Tax Policy confirmed in writing on August 13, 2026 that the most recent full cash value governs the residential alteration threshold, not the limited property value, and stated the test from the inclusive direction: the value of the alteration contract should be 25% or less of the parcel's full cash value.
The Notice is not the route a contractor should plan on. It goes to the owner, not to the contractor, and it arrives once a year. The same full cash value is public record and can be pulled from the county assessor's parcel search at any time.
A notice can be amended, which matters to a threshold measured against the most recent value. Within sixty days of mailing, if the assessor discovers that property characteristic data applied to a grouping of properties — by neighborhood or by classification — produced an incorrect opinion of value, the assessor may amend the notice and must notify the owner of the amended value. So the figure a contractor pulled in March is not guaranteed to be the figure that stands in May.
The Notice also starts an appeal clock for the owner. A petition for review of an improper valuation or classification is filed with the assessor within sixty days after the date the assessor mailed the notice of valuation — or the amended notice, which restarts it. Postal service postmark dates are evidence of the filing date.
A.R.S. §§ 42-15101, 42-13301, 42-16051(D), 42-5075(S)(1)(a); ADOR Tax Policy information letter, 2026-08-13