Special Assessments

The Town is not able to accept online assessment payments at this time.

Properties showing a delinquent installment may be subject to public auction if not brought current. Please contact our Accounting Technician at 928-759-3008 for more information on delinquent payments.

Special Assessments Definition

Special Assessment bonds are issued by the Town on behalf of improvement districts, which are created by property owners for a specific purpose, such as to finance local street, water or sewer improvements, or to acquire an existing water or sewer operation. Property owners in the designated districts agree to be assessed for the principal and interest costs of repaying the bonds.

As trustee for improvement districts, the Town is responsible for collecting the assessments levied against the owners of property within the improvement districts, and for disbursing these amounts to retire the bonds issued to finance the improvements.

These bonds are secured by a lien on the property and improvements of all parcels within each district. In the event of default by the property owner, the Town may enforce auction sale to satisfy the debt service requirements of the improvement bonds. The Arizona Revised Statutes, which govern these types of taxing districts, provides additional information on their website. Reference Chapter 4 of Title 48.

Payments

If you have a mortgage on your property, your mortgage holder may be paying your property assessment. In order to avoid duplicate payments, contact your mortgage holder. If the mortgage company is not paying your assessment, then you, as the property owner, are responsible for payment.

If you are not the present owner or have no other interest in this property, please notify the Special Assessments office with the name and the address of the present owner.

• Principal - Due annually on or before December 1; delinquent on December 2.
• Interest - Due semi-annually on or before December 1 and June 1; delinquent on December 2 and June 2, respectively. Statements are mailed 30 days in advance, to the last known address of the apparent owner or interested party.

If remittance is made by mail, it must be received by the Town of Prescott Valley prior to the delinquent date in order to avoid a 5% penalty. Failure to receive billing notice will not avoid penalty assessment. The State Improvement District Law permits no discretionary authority to extend time for payments or to waive penalties and costs.

Property must be advertised for sale within 20 days of delinquency, and sold with additional costs assessed. After such sale, the entire unpaid balance of the assessment on the property will become due and the owner may redeem it within 12 months, by paying the full amount of the improvement lien, plus interest and other costs. Property is subject to deed to the purchaser after 1 year.