The property values around Gila County have generally dropped — a reflection of the economic downturn, according to officials in the assessor’s office.
The Gila County Assessor’s Office sent out notices of value to property owners on Feb. 28. The deadline to appeal the assessed value is April 29, said chief assessor Larry Huffer.
Petitions to appeal the valuation may be made any time before that, but the postmark deadline is April 29.
“The values either tended to go down or more or less stayed the same,” said Assessor Dale Hom.
Huffer said property values are generally made on a neighborhood-by-neighborhood basis and reflect what similar properties in the same area are selling for.
The amount of property tax owed is based on the valuation. The taxes owed for the 2011-2012 fiscal year are based on the assessments made in 2010. The values assessed this year are what 2012-2013 fiscal year property taxes will be based.
The Gila County Board of Supervisors have not yet set property tax rates for 2011-2012. This will be done as part of the budget process, which is just now in its earliest stages.
Assistant County Manager John Nelson said Gila County property values were down $52 million for 2010-2011.
He said the budget process would start with a work session March 23. Public hearings on the budget and necessary taxes will be held in late June. He said the county must have its tentative budget set by the third Monday in July, but much of what the county does must wait until it is known what the Legislature will do with the state budget.
Nelson said tax bills will be mailed in July and are due in early October.