Salome, Arizona Property Taxes
The median property tax rate in Salome, AZ is 1.11%, higher than both the national median of 0.99% and Arizona's state median of 0.56%. With a median home value of $61,803, the typical annual property tax bill in Salome is $698, which is below the national median of $2,690. Property taxes in Salome are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Salome'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 Salome or elsewhere in La Paz County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Salome, Arizona Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,120
Ownwell’s Salome Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Salome with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Salome 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 Salome, Arizona
Property taxes in Salome, Arizona, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Salome is 1.11%, higher than the U.S. national median of 0.99%. Local government entities within Salome set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salome 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 Salome's effective property tax rate to other counties in Arizona and the national median. For comparison, the 85348 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Salome provides valuable insights into the varying tax landscape across La Paz County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Salome Tax Rate
1.11%
Average La Paz County Tax Rate
0.85%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Salome, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85348 | 0.61% | 0.90% | 1.11% | 1.29% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Salome, Arizona
In Salome, Arizona, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 La Paz 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 Salome, 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 Salome helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 85348 has the highest median tax bill at $698.
Average Salome Assessed Value
$61,803
Average La Paz County Assessed Value
$97,828
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Salome, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85348 | $24,034 | $38,182 | $61,803 | $103,472 | $159,969 |
Source: Ownwell
Property Tax Bills Across Salome, Arizona
In Salome, La Paz County, AZ, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The process involves multiplying the assessed value by the local tax rate. In Salome, the median home price is $61,803, and property tax rates can vary within the area. Homeowners in the 25th percentile typically see tax bills around $383, while those in the 75th percentile face bills closer to $1,105. For the top 10% of properties, tax bills can reach up to $1,701. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Salome's tax bills may seem lower or higher depending on specific property values. Understanding these factors helps homeowners anticipate their annual financial obligations and make informed decisions about property investments.
Average Salome Tax Bill
$698
Average La Paz County Tax Bill
$836
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Salome, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85348 | $158 | $383 | $698 | $1,105 | $1,701 |
Source: Ownwell