If you have inherited a home in Maricopa County, you may already have a property valuation notice or a number from the Assessor's parcel record. Whether you can use it depends on why you need a value, the date it must represent and the documentation requested. For a small-estate affidavit calculation, the applicable assessment year for the Assessor's Full Cash Value depends on the statutory route: it can be the year of death or the year the affidavit is given. Another request may call for a property-specific value as of a different date, or for an appraisal report.
You do not need to assume that every inherited home requires an appraisal. Start by identifying the purpose of the request, the date of value and the documentation the recipient wants.
Katya Borisova is an Arizona Certified Residential Appraiser who provides estate and date-of-death appraisal services in Maricopa County. Talking through the property's address, the intended use and the date requested can help clarify what an appraisal would need to address. The person requesting the value or a qualified legal or tax advisor can help you determine what your situation requires.
Ask Katya About Your Inherited Home. Start with the property address and any instructions you have already received. You can clarify the details during the conversation.
Can you use the assessor's value when selling an inherited home?
You can use the assessor's value as a starting point, but it is an assessment-purpose figure and does not necessarily reflect what the home would sell for today. If you need a property-specific opinion of current market value, discuss that purpose and the date needed with an appraiser.
Two values on the notice
The Maricopa County Assessor's valuation notice shows both Full Cash Value and Limited Property Value. It is a valuation notice, not the property tax bill.
Full Cash Value (FCV) is the Assessor's estimate of market value for assessment purposes. The Assessor describes it as synonymous with market value, but it is developed for the county's assessment process, which uses mass appraisal. It is not automatically the same as a property-specific appraisal for an estate's requested date.
Limited Property Value (LPV) is a value set under Arizona law and used to calculate property taxes for most properties. FCV and LPV have different roles, so ask which one a request specifies rather than choosing whichever number appears more useful. The Assessor's valuation notice FAQ explains the notice and its fields.
When the court specifies Full Cash Value
The Maricopa County Superior Court's probate guide describes a transfer of a small estate by affidavit. Under A.R.S. 14-3971(E)(1), the assessment year used for Full Cash Value depends on the statutory route. When no application or petition is pending and no personal representative has been appointed in any jurisdiction, subsection (a) uses the assessment rolls for the year of death. When a personal representative has been discharged or more than one year has passed since a closing statement was filed, subsection (b) uses the assessment rolls for the year the affidavit is given.
That figure is only one part of the court's eligibility conditions. The guide also addresses liens and other requirements. Check the current court instructions and, if you need help determining eligibility or the required figures, consult a qualified legal advisor. Do not assume a private appraisal substitutes for the measure the court specifies.
Is assessment-purpose FCV the same as a requested date-of-death market value?
Not necessarily. FCV is an assessment-purpose estimate developed under mass-appraisal conditions. A request for market value as of the owner's date of death specifies a particular earlier date and may call for a property-specific appraisal. Ask the person requesting the value whether the assessor figure and its documentation satisfy the request.
Can an appraisal establish a value for a prior date?
Yes. A retrospective appraisal can provide a property-specific value opinion as of an earlier date, even when the report is prepared later. If a date-of-death value is requested, a date-of-death appraisal addresses the home and market as of that earlier date.
A family deciding whether to keep or sell the home today is asking a different question from what it was worth on a past date. Tell the appraiser which decision or request the value will address, rather than assuming one number will serve both purposes.
Check the home behind the number
The Assessor's parcel information is a useful starting point. Compare its property description with what you know about the home, especially if there is an addition, a separate living space or a changed floor plan. A difference in the records does not prove the county's value is wrong, but it is worth raising when discussing a property-specific appraisal.
For a historical value, the timing of changes matters too. For a hypothetical example, suppose a home was renovated after the date of death. Dated photographs from before the renovation could help clarify its earlier condition. Listings or renovation records can help as well. Share what you have; you do not need a complete history to start a conversation.
What to ask before ordering
If an attorney, accountant or other professional requested a value, ask:
- What is the value needed for, and who will use it?
- What date should the value represent?
- Is the Assessor's specified figure sufficient, or is an appraisal report requested?
- If a report is needed, are there particular instructions for the appraiser?
For a Maricopa County residential property, Velox Valuations Phoenix Metro offers estate appraisal services. To discuss the request, share the address and any instructions you have already received. If some details are still unclear, you can clarify them during the conversation.
Ask Katya About Your Inherited Home.
About Velox Valuations Phoenix Metro
Katya Borisova is an Arizona Certified Residential Appraiser who provides residential estate and date-of-death appraisal services in Maricopa County. Learn more about the practice.