Queen Creek reports 12% growth in assessed property values for fiscal year

The Queen Creek Town Council held a regular session on June 4, 2025, focusing on property valuations and their implications for local taxation. The meeting provided an overview of the two types of property valuations: full cash value, which reflects the market value at the time of sale, and limited property value, which is used to calculate property taxes and is typically lower than the market value.

A key point discussed was the state law that limits the increase of limited property value to 5% per year, ensuring it cannot exceed the market value. Currently, Queen Creek's market value is significantly higher than its limited property value, with a difference of 94%. This discrepancy has led to a freeze on property tax increases.

The assessed value of properties in Queen Creek grew by approximately 12% in the fiscal year, attributed to both the 5% increase in existing properties and the addition of new constructions, including homes and businesses. The total assessed value is nearing one billion dollars, reflecting the community's investment in residential and commercial properties.

The meeting also highlighted the unique situation of Queen Creek being located in two counties, Maricopa and Pinal, which are responsible for determining assessed values. The majority of the assessed value is in Maricopa County, with a smaller portion in Pinal County. The breakdown of assessed values shows a significant emphasis on single-family homes, followed by commercial properties and vacant land.

In conclusion, the discussions underscored the importance of understanding property valuations and their impact on local taxation, as well as the ongoing growth and investment in the Queen Creek community. The council anticipates that the assessed value will exceed one billion dollars in the coming year, indicating continued development and economic activity in the area.