Lake Montezuma is a census-designated place (CDP) in Yavapai County, Arizona, United States. The population was 3,344 at the 2000 census. The Lake Montezuma CDP includes the communities of Rimrock and McGuireville. It is located along Interstate 17, 20 miles south of Sedona and 8 miles north of Camp Verde in central Arizona's Verde Valley.
The Community was originally known as Beaver Creek as ranchers and farmers settled along the banks of the creek named for the prolific numbers of beavers found there. In 1882, when there were a total of 8 local children, Yavapai County set up one of the first schools in the Verde Valley, Beaver Creek School, drawing kids from many miles around the area.