Rio Verde, Arizona Property Taxes
The median property tax rate in Rio Verde, AZ is 0.59%, slightly higher than the Arizona state median of 0.56% but below the national median of 0.99%. With a median home value of $561,300, the typical annual property tax bill in Rio Verde reaches $3,281, significantly surpassing the national median of $2,690. Property taxes in Rio Verde are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rio Verde'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 Rio Verde 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
Rio Verde, 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 Rio Verde Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rio Verde with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rio Verde 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 Rio Verde, Arizona
Property taxes in Rio Verde, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rio Verde is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Rio Verde set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rio Verde 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 Rio Verde's effective property tax rate to other counties in Arizona and the national median. For comparison, the zip code 85263 has the highest median property tax rate of 0.59%, while the lowest median tax rate is also 0.59% in the same zip code. Understanding how these cities compare with Rio Verde 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 Rio Verde Tax Rate
0.59%
Average Maricopa County Tax Rate
0.52%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rio Verde, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85263 | 0.40% | 0.48% | 0.59% | 0.66% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Rio Verde, Arizona
In Rio Verde, 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 Rio Verde, 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. The median home price in Rio Verde is $561,300, with tax bills ranging from $2,348 at the 25th percentile to $4,871 at the 90th percentile. 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 Rio Verde helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rio Verde Assessed Value
$561,300
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 Rio Verde, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85263 | $328,140 | $436,600 | $561,300 | $720,700 | $907,340 |
Source: Ownwell
Property Tax Bills Across Rio Verde, Arizona
In Rio Verde, AZ, property tax bills are calculated based on the assessed value of a home, which is determined by the Maricopa County Assessor's Office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For Rio Verde, the median home price is $561,300, which significantly influences the tax bill. Homeowners in this region can expect their property tax bills to vary widely, with the 25th percentile at $2,348 and the 75th percentile at $4,047. The highest median tax bill recorded in the area is $3,281. Several factors contribute to the final tax bill, including the property's market value, any applicable exemptions, and the specific tax rate set by local taxing authorities. For homeowners in Rio Verde, understanding these factors is crucial as property taxes can significantly impact annual household expenses. Compared to the national median property tax rate of 0.99%, Rio Verde's property tax rates and bills reflect the region's property values and local fiscal policies.
Average Rio Verde Tax Bill
$3,281
Average Maricopa County Tax Bill
$1,766
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Rio Verde, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85263 | $1,571 | $2,348 | $3,281 | $4,047 | $4,871 |
Source: Ownwell