In 2012 the voters of Arizona passed Proposition 117.  It amended the Arizona Constitution (Article IX, Section 18) relating to the value that will be used for tax assessment purposes.  In the Past, Primary taxes were based upon the Assessed Value (AV) computed from the Limited Property Value (LPV) and Secondary taxes were based on the AV computed from the Full Cash Value (FCV).  The amendment to the Constitution established that beginning with the 2015 tax year, the LPV would be the basis for calculating all property taxes.  The County Assessor will continue to determine the FCV for all property but it will now be used solely for determining the maximum LPV.

Beginning with the 2015 Assessment Roll, the Yuma County Assessor’s Office will now produce two sets of abstracts.  One set that will be the LPV and corresponding assessed values for all taxing authorities and another set that will be the FCV and associated assessed values.  The LPV abstracts should be used for the tax calculations for both Primary and Secondary taxes.  The FCV abstracts should only be used to monitor changes in market valuations and for the calculation of debt limit.