Staring at your Glendale property tax notice and wondering why it shows two values? You are not alone. Arizona uses two different numbers, LPV and FCV, and each plays a specific role in what you owe. In this guide, you will learn what each value means, how Maricopa County calculates your bill, key protections that can limit increases, and the timelines you should not miss. Let’s dive in.
LPV vs FCV: the two numbers that matter
Full Cash Value (FCV)
FCV is the Assessor’s estimate of market value under normal conditions. It is the appealable value on your annual notice. If you believe your FCV is too high, you can appeal it using the county’s process. For definitions and context, see the State Board of Equalization’s overview of property valuation terms.
Limited Property Value (LPV)
LPV is a calculated value designed to limit year‑to‑year tax increases, and it cannot exceed FCV. Since Proposition 117, LPV generally cannot rise by more than 5% per year unless certain exceptions apply. LPV is the value used to compute most property taxes in Arizona. You can review the statutory basis in A.R.S. § 42‑13301.
The 5% cap and when it can change
Rule A: the usual case
If your property did not change in physical characteristics or use, your LPV typically increases by up to 5% from the prior year and never above FCV. This is the default calculation most Glendale homeowners see.
Rule B: when property changes
If your parcel is new to the roll, was split or combined, had major improvements or demolition, or was previously omitted, the Assessor can reset LPV using the relationship between LPV and FCV for similar properties. That can cause a one‑time jump larger than 5%. The State Board explains these scenarios in its note on tax bill increases and Rule B.
How Glendale calculates your tax bill
Here is the flow from values to your bill:
Start with your FCV and LPV. Both appear on the Notice of Valuation mailed by the Maricopa County Assessor.
Apply the assessment ratio for your property class to get the assessed value. For most owner‑occupied homes in Legal Class 3, the ratio is 10%. You can see class ratios in the Assessor’s business and property FAQ.
Apply tax rates per 100 of assessed value. Multiple jurisdictions set primary and secondary rates, and they are added together on your bill.
Which value is used? Since 2015, LPV is used for most primary and secondary calculations, while FCV remains the appealable market number and the ceiling on LPV. The Maricopa County Assessor outlines this on its property tax FAQ.
Local Glendale note. Glendale is within Maricopa County. The City’s budget decisions affect the city portion of your combined rate. For example, the City referenced a planned rate decrease for FY 2024‑25, from $1.5626 to $1.4925 per $100 of LPV. See the City’s budget update for context.
Example, simplified: If last year’s LPV was $400,000, a typical Rule A increase would set LPV at $420,000 if FCV is at least that amount. With a 10% ratio, assessed value would be $42,000. If the combined primary rate were $10 per $100 assessed value, primary tax would be $4,200, plus any secondary levies. This is illustrative math only. Your parcel’s actual rates and totals will differ.
Homeowner protections and savings
- 1% primary tax limit. Arizona caps the combined primary tax on owner‑occupied homes at no more than 1% of LPV. If local primary taxes would exceed that, your school district’s primary tax is reduced and the State provides aid to cover the difference. See the State Board’s summary of the 1% limitation and state aid.
- State homeowner aid. Arizona has provided state aid mechanisms that reduce owner primary liability. The exact percentage can change by year and appears on your bill as STATE AID TO EDUCATION. Details are noted with the 1% limitation guidance.
- Exemptions and deferrals. Certain seniors and qualifying disabled homeowners may be eligible for exemptions or deferrals. Check county forms and eligibility rules, and see the State Board’s general FAQ for references.
Notices, appeals, and key dates
- Notice of Valuation. Maricopa County typically mails these before March 1. Your notice lists FCV, LPV, classification, and deadlines to appeal.
- Appeal deadlines. If you disagree with your FCV or classification, file a Petition for Review with the Assessor, commonly within 60 days from the notice mail date in Maricopa County. For steps and online filing, visit the Assessor’s appeals page.
- Notice of Claim. If you find a factual error, such as incorrect square footage, you can file a Notice of Claim for the current and up to three prior years. The Assessor’s appeals page explains the process and forms.
- Tax bills and due dates. The Maricopa County Treasurer mails tax bills in September. Standard due dates are Oct 1 and Mar 1 for the two installments.
Checklist when your notice arrives:
- Confirm your property class and key facts, including square footage and any recent improvements.
- Compare FCV to recent sales of similar Glendale homes and collect documentation if something seems off.
- If you plan to appeal FCV or classification, calendar the deadline and submit your Petition for Review promptly. Use a Notice of Claim if you find factual errors.
What buyers and sellers should watch
- Expect LPV to move gradually. In fast markets, FCV can rise faster than LPV because of the 5% cap. Your taxes will reflect LPV, not the higher FCV, unless a Rule B reset applies.
- Plan for improvements. Adding a room or major remodel can trigger Rule B and re‑establish LPV at a new level relative to FCV. The State Board’s note on tax bill increases explains why one‑time jumps can occur after changes.
- Share recent notices in escrow. Buyers should request the last Notice of Valuation and any appeal history to set expectations. Tax proration at closing usually follows the prior year bill or the method agreed in your contract and escrow instructions.
If you want help reading your Glendale notice, planning improvements, or preparing to buy or sell with taxes in mind, reach out. With two decades of Phoenix metro experience, I will help you make informed, confident decisions from valuation through closing. Connect with Afshin Sadeghi to start the conversation.
FAQs
What is the difference between LPV and FCV on a Glendale tax notice?
- FCV is the market‑based value you can appeal, while LPV is a capped value that usually controls how most taxes are calculated and cannot exceed FCV, as defined by the State Board’s property valuation guidance.
How does the 5% LPV cap work in Maricopa County?
- Under A.R.S. § 42‑13301, LPV typically increases by up to 5% from the prior year unless the parcel changed or was added, in which case Rule B can reset LPV relative to FCV; LPV never exceeds FCV.
Who sets Glendale’s property tax rates and can they change year to year?
- Multiple jurisdictions set rates, including the City of Glendale, county, schools, and special districts; the city portion can change with the annual budget, as noted in Glendale’s budget update.
When and how can I appeal my Glendale home’s FCV?
- After your Notice of Valuation arrives, file a Petition for Review within the published deadline, commonly 60 days from the mail date in Maricopa County; see the Assessor’s appeals page for steps and forms.
Will a major remodel increase my taxes more than 5%?
- Major changes can trigger Rule B, which may re‑establish LPV relative to FCV and lead to a one‑time increase above 5%, as explained in the State Board’s note on tax bill increases.
