This case involves the valuation and classification of 48 acres of land and a residence in West Sedona. The use of the land is in transition from vacant land to agricultural use. The Assessor’s Office conducted a site visit to the property and has determined that a portion of the property should be reclassified as agricultural.
The proposed reclassification would reduce the taxable value of the property from $4.6 million to $2.5 million, resulting in a reduction in property taxes in 2018 of approximately $30,000.00. There would be no refund due for subsequent years.