| A |
| Ad Valorem - According to the value. |
| Area Code - Assessor assigned code that represents the subpolitical jurisdiction that receives the tax dollars. The first two digits represent the school district, the next two digits represent the city or town and the last two digits represent special districts |
| Assessed Valuation - Value derived by the County Assessor by applying the assessment ratio to limited or full cash value |
| Assessment Ratio - Percentage, based on property usage, applied by the County Assessor to limited or full cash value in determination of assessed value |
| Assignment - Transference of interest in something to someone else |
| B |
| Back tax - Any outstanding tax that exists other than the current year |
| Bidder Information Card -A registration card to be filled out by purchasers of outstanding tax liens |
| Bonds - Long-term indebtedness approved by voters in a particular taxing district. |
| C |
| Certificate of Purchase - An instrument denoting the amount of taxes, interest and fees for which a tax lien was sold. |
| CP Assignment - The purchase of a tax lien at any time other than the original sale |
| CP Individual - Liens that were purchased at the first offering |
| CP Holder - Individuals or entities that invest in tax liens |
| Comparative Amount -Listing of the previous year's taxes for comparison to the current year's taxes by jurisdiction. |
| D |
| Delinquent tax - Taxes owing other than the current year |
| E |
| East Valley Institute of Technology - The East Valley Institute of Technology (EVIT) is a public school district providing specialized vocational/technological training to high school students from 10 districts throughout the East Valley. |
| Exemption - Property tax exemptions specified IX§ 2, Constitution of Arizona for widow, widowers, and permanently disabled. |
| F |
| Full cash valuation - Full cash value is synonymous with market value derived annually by the County Assessor using standard appraisal methods. |
| L |
| Lienholder - Typically referring to individuals or entities investing in tax lien purchases |
| Limited valuation - This value is formula driven and was established by the legislature to provide for a mean-based operating and maintenance budget for taxing jurisdictions. Increases to this value are based on statutory formulas. |
| O |
| Overrides - Amounts levied pursuant to an approval by voters in a particular taxing district to exceed budget or tax limitations. |
| P |
| Personal Property - Includes property of every kind, both tangible and intangible, not included in the term "real estate". |
| Primary Tax Rate - Rate per $100 of assessed value used to generate primary taxes. |
| Primary Taxes - Ad valorem taxes calculated on limited assessed value for the maintenance and operation of State, County, Cities, School Districts and Community College District. |
| R |
| Residential Ad Valorem Limit - The limit of the tax, based on the value of residential property. The Arizona State Constitution Article 9 subsection 18 establishes a limititation on the amount of property taxes that can be levied by any taxing authority against a residential proeprty for the purpose of operations and maintenance. |
| Resolutions - Action on a parcel that will change or alter the tax in some way. |
| S |
| Secondary tax rate - Rate per $100 assessed value used to generate secondary taxes. |
| Secondary taxes - Ad valorem taxes calculated on full cash assessed value to pay redemption charges on any bonded indebtedness, amounts levied by voter overrides and assessments levied by Special Districts. |
| Special Districts - Limited purpose districts such as Flood Control, fire, irrigation, etc. |
| State aid to Education - Reduction (tax credit) for homeowners (owner-occupied) in primary property tax levied by school districts in your area. This amount will be reimbursed to School Districts from the State through the County Treasurer. |
| Subtax - Purchase of current delinquent year by previous year's lienholder. |
| W |
| West-MEC - A public school district. In 1990, the Arizona legislature approved by statute that public school districts could join together through a public vote to combine efforts to offer Career and Technical Education programs. In November 2002, eight west-side district governing boards placed the formation of West-MEC on the ballots of their constituents. All eight west-side communities voted to form the Western Maricopa Education Center. |
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