Luna Dr N, Arizona Property Taxes
The median property tax rate in Luna Dr N, AZ is 0.96%, slightly below the national median of 0.99% but significantly higher than the Arizona state median of 0.56%. With the median home value in Luna Dr N at $372,300, the typical annual property tax bill reaches $3,566, surpassing the national median of $2,690. Property taxes in Luna Dr N are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Luna Dr N'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 Luna Dr N 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
Luna Dr N, 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 Luna Dr N Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Luna Dr N with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Luna Dr N 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 Luna Dr N, Arizona
Property taxes in Luna Dr N, Arizona, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Luna Dr N is 0.62%, significantly lower than both the Arizona state median of 0.72% and the U.S. national median of 0.99%. Local government entities within Luna Dr N set these rates annually, and they can vary significantly across different neighborhoods. Each year, Luna Dr N 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 Luna Dr N's effective property tax rate to other counties in Arizona and the national median. For comparison, the 85018 zip code has the highest median property tax rate of 0.96%, while the 85003 zip code has the lowest median tax rate of 0.62%. Understanding how these cities compare with Luna Dr N provides valuable insights into the varying tax landscape across Maricopa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Luna Dr N Tax Rate
0.96%
Average Maricopa County Tax Rate
0.52%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Luna Dr N, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Luna Dr N, Arizona
In Luna Dr N, 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 Maricopa 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 Luna Dr N, 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 Luna Dr N helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Maricopa County is $372,300, with tax bills around $3,566 at the 25th, 75th, and 90th percentiles.
Average Luna Dr N Assessed Value
$372,300
Average Maricopa County Assessed Value
$328,300
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Luna Dr N, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Luna Dr N, Arizona
In Luna Dr N, Maricopa County, AZ, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For homeowners in this region, the median home price stands at $372,300. The property tax rate in Maricopa County is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including property size, location, and condition. Homeowners can expect a consistent tax bill as the 25th, 75th, and 90th percentiles all show a tax bill of $3,566. This amount is relatively high compared to the national median property tax rate of 0.99%, reflecting the higher property values in the area. The tax bill can significantly impact homeowners, as it constitutes a substantial part of their annual expenses. Understanding these factors can help homeowners anticipate and manage their property tax obligations effectively.
Average Luna Dr N Tax Bill
$3,566
Average Maricopa County Tax Bill
$1,766
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Luna Dr N, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell