Thatcher, Arizona Property Taxes
The median property tax rate in Thatcher, AZ is 0.52%, significantly lower than both the national median of 0.99% and the Arizona state median of 0.56%. With the median home value in Thatcher at $200,200, the typical annual property tax bill amounts to $1,008, which is considerably less than the national median of $2,690. Property taxes in Thatcher are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Thatcher'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 Thatcher or another part of Graham County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thatcher, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$1,041
Ownwell’s Thatcher Property Tax Bill Calculator helps homeowners, real estate investors, and potential buyers estimate their annual property taxes in Thatcher with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thatcher 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 Graham County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Thatcher, Arizona
Property taxes in Thatcher, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thatcher is 0.52%, which is lower than the U.S. national median of 0.99%. Local government entities within Thatcher set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thatcher 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 Thatcher's effective property tax rate to other areas in Graham County and the national median. For comparison, the zip code 85552 has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these areas compare with Thatcher provides valuable insights into the varying tax landscape across Graham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thatcher Tax Rate
0.52%
Average Graham County Tax Rate
0.57%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thatcher, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85552 | 0.42% | 0.48% | 0.52% | 0.56% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Thatcher, Arizona
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Thatcher, 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 Graham County Assessor 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 Thatcher, 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. Being aware of these valuation processes in Thatcher helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 85552 has the highest and lowest median tax bill, both at $1008. By staying informed and proactive, Thatcher residents can optimize their property tax strategies effectively.
Average Thatcher Assessed Value
$200,200
Average Graham County Assessed Value
$149,866
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thatcher, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85552 | $37,862 | $112,742 | $200,200 | $272,112 | $361,592 |
Source: Ownwell
Property Tax Bills Across Thatcher, Arizona
In Thatcher, located in Graham County, AZ, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Various factors such as property size, location, and market conditions influence this assessed value. Homeowners in Thatcher can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is around $573, while the 75th percentile tax bill can reach up to $1,388. At the higher end, the 90th percentile tax bill can go up to $1,880. These figures illustrate the range of property tax obligations residents might face. Compared to the national median property tax rate of 0.99%, property taxes in Thatcher can be seen as relatively moderate, making it an appealing place for homeowners. Understanding how these elements contribute to the overall tax bill can help homeowners better manage their finances and anticipate annual property tax obligations.
Average Thatcher Tax Bill
$1,008
Average Graham County Tax Bill
$834
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Thatcher, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85552 | $203 | $573 | $1,008 | $1,388 | $1,880 |
Source: Ownwell