Madera Canyon, Arizona Property Taxes
The median property tax rate in Madera Canyon, AZ is 0.62%, slightly higher than the state median of 0.56% but still below the national median of 0.99%. With a median home value of $522,742, the typical annual property tax bill in Madera Canyon amounts to $3,210, surpassing the national median of $2,690. Property taxes here 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 Madera Canyon'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 Madera Canyon 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
Madera Canyon, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$3,241
Ownwell’s Madera Canyon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Madera Canyon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Madera Canyon 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 Madera Canyon, Arizona
Property taxes in Madera Canyon, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Madera Canyon is 0.62%, which is lower than both the Arizona state median of 0.72% and the U.S. national median of 0.99%. Local government entities within Madera Canyon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Madera Canyon 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 Madera Canyon's effective property tax rate to other areas in Arizona and the national median. For comparison, the 85614 zip code has both the highest and lowest median property tax rate of 0.62%. Understanding how these areas compare with Madera Canyon provides valuable insights into the varying tax landscape across Pima County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Madera Canyon Tax Rate
0.62%
Average Pima County Tax Rate
0.81%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Madera Canyon, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85614 | 0.61% | 0.61% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Madera Canyon, Arizona
In Madera Canyon, 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 Pima 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 Madera Canyon, 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 Madera Canyon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $3,210 in zip code 85614, providing a consistent benchmark for homeowners in the area.
Average Madera Canyon Assessed Value
$522,742
Average Pima County Assessed Value
$262,759
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Madera Canyon, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85614 | $441,845 | $472,182 | $522,742 | $594,293 | $637,224 |
Source: Ownwell
Property Tax Bills Across Madera Canyon, Arizona
In Madera Canyon, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in this area is $522,742. The assessed value is then multiplied by the local tax rate to determine your tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners, this means that even small changes in property value can lead to significant differences in annual tax bills. For instance, the tax bill at the 25th percentile is $2,905, while at the 75th percentile, it rises to $3,655. At the 90th percentile, it can reach up to $3,922. The highest median tax bill recorded in the area is $3,210, which is higher than the national median property tax rate of 0.99%. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Madera Canyon Tax Bill
$3,210
Average Pima County Tax Bill
$2,088
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Madera Canyon, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85614 | $2,722 | $2,905 | $3,210 | $3,655 | $3,922 |
Source: Ownwell