Pima County, AZ — Property Tax Underwriting Guide
Arizona · Annual market review
What this means for multifamily underwriting
Arizona is a low-property-tax, no-sale-reset state. Underwrite taxes near the seller's current bill plus ~5%/yr LPV growth - do NOT underwrite to purchase price x rate. Materially lower tax posture than TX or CA.
Transaction type breakdown
A change of ownership alone does NOT reset the Limited Property Value to purchase price. Under Prop 117 (2015) the LPV continues under the 5% annual cap; Rule B resets apply to new construction, modifications, or parcel splits - not a simple sale.
A refinance is not a valuation event and does not affect the LPV.
Ownership/entity transfers do not trigger an LPV reset; the 5% cap continues. Physical changes or new construction can trigger a Rule B reset.
Tax appeal information
Confirm the parcel's legal class (rental residential Class 4 = 10% vs commercial Class 1 ~15-16%), current LPV vs FCV, and any Rule B events (new construction/renovation) that could reset the LPV.
Guide review
County guidance last reviewed: July 17, 2026
Tax-rate scope: County-level underwriting placeholder; not a parcel-specific tax rate.
Official sources: Pima County Assessor, Arizona Rev. Stat. 42-13301 (Limited Property Value)
Arizona LPV framework and Pima County assessor source reviewed 2026-07-17. No parcel-specific combined rate is supplied; verify legal class, current LPV, and the parcel's taxing-jurisdiction stack.
Sources
Parclio estimates are underwriting guidance, not legal or tax advice. Always verify millage rates, the seller's assessed value, and appeal deadlines with the county assessor or local counsel before relying on these numbers for a credit decision.
Run a tax reset estimate for Pima County
Use Parclio's estimator to model the post-closing tax bill, NOI impact, DSCR change, and underwriting memo language for your next Pima County deal.