Munds Park, Arizona Property Taxes
The median property tax rate in Munds Park, AZ is 0.70%, which is lower than the national median of 0.99% but higher than the Arizona state median of 0.56%. With a median home value of $303,715 in Munds Park, the typical annual property tax bill amounts to $2,031, which is below the national median of $2,690. Property taxes in Munds Park are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Munds Park's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Munds Park or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Munds Park, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$2,126
Ownwell’s Munds Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Munds Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Munds Park to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Munds Park, Arizona
Property taxes in Munds Park, Arizona, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Munds Park is 0.70%, lower than the U.S. national median of 0.99%. Local government entities within Munds Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Munds Park estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Munds Park's effective property tax rate to other counties in Arizona and the national median. For comparison, the zip code 86017 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these areas compare with Munds Park provides valuable insights into the varying tax landscape across Coconino County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Munds Park Tax Rate
0.70%
Average Coconino County Tax Rate
0.54%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Munds Park, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86017 | 0.56% | 0.62% | 0.70% | 0.90% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Munds Park, Arizona
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Munds Park, Arizona. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Coconino County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Munds Park, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the median home price in Munds Park is $303,715. Tax bills can vary significantly, with the 25th percentile at $1,008 and the 75th percentile at $2,941. The highest and lowest median tax bills are both $2,031, found in zip code 86017. Knowing these details helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Munds Park Assessed Value
$303,715
Average Coconino County Assessed Value
$335,366
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Munds Park, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86017 | $55,590 | $88,008 | $303,715 | $443,886 | $572,999 |
Source: Ownwell
Property Tax Bills Across Munds Park, Arizona
In Munds Park, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Coconino County Assessor's Office, which evaluates the market value of the property. The tax rate is then applied to this assessed value to determine the final tax bill. Factors such as property improvements, location, and market trends can influence the assessed value. For homeowners in Munds Park, the property tax bills can vary significantly. The 25th percentile tax bill is around $1,008, while the 75th percentile reaches $2,941. At the 90th percentile, homeowners might pay up to $3,790. The median home price in the area stands at $303,715, and the median property tax bill is $2,031, which is slightly above the national median property tax rate of 0.99%. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Munds Park Tax Bill
$2,031
Average Coconino County Tax Bill
$1,766
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Munds Park, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86017 | $629 | $1,008 | $2,031 | $2,941 | $3,790 |
Source: Ownwell