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In early February, property owners received notices of valuations from the Maricopa County Assessor’s office for the 2008 tax year. In the five northeast ZIP codes, home valuations have risen anywhere from 8.7 to 14.1 percent after rising from 50 to nearly 66 percent the previous year. Property tax bills are based on the assessed values of your home. But just because the assessed value of your home goes up doesn’t mean that your property tax bill will rise at a corresponding rate. Taxing jurisdictions, such as city and the school districts, often lower their tax rates when assessed values rise as they have in the past few years. More…