Phoenix, Arizona Property Taxes
The median property tax rate in Phoenix, AZ is 1.33%, considerably higher than both the national median of 0.99% and the Arizona state median of 0.56%. With the median home value in Phoenix, the typical annual property tax bill reaches $92, significantly lower than the national median of $2,690. Property taxes in Phoenix are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Phoenix'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 Phoenix 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
Phoenix, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$92
Ownwell’s Phoenix Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Phoenix with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Phoenix 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 Phoenix, Arizona
Property taxes in Phoenix, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Phoenix is 1.33%, higher than the U.S. national median of 0.99%. Local government entities within Phoenix set these rates annually, and they can vary significantly across different neighborhoods. Each year, Phoenix 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 Phoenix's effective property tax rate to other areas in the region and the national median. For comparison, the 85018 zip code has the highest median property tax rate of 1.33%, while the 85037 zip code has the lowest median tax rate of 0.65%. Understanding how these areas compare with Phoenix provides valuable insights into the varying tax landscape across Pinal County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Phoenix Tax Rate
1.33%
Average Pinal County Tax Rate
0.52%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Phoenix, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85018 | 1.33% | 1.33% | 1.33% | 1.33% | 1.33% |
| 85020 | N/A | N/A | N/A | N/A | N/A |
| 85037 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Phoenix, Arizona
In Phoenix, 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 Pinal 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 Phoenix, 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 Phoenix helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Phoenix, the highest median tax bill is found in the 85037 zip code, with a value of $556. The lowest median tax bill is also in the 85037 zip code, reflecting the same value.
Average Phoenix Assessed Value
$6,951
Average Pinal County Assessed Value
$319,292
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Phoenix, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85018 | $6,951 | $6,951 | $6,951 | $6,951 | $6,951 |
| 85020 | N/A | N/A | N/A | N/A | N/A |
| 85037 | $85,725 | $85,725 | $85,725 | $85,725 | $85,725 |
Source: Ownwell
Property Tax Bills Across Phoenix, Arizona
Property tax bills in Phoenix, located in Pinal County, are calculated based on the assessed value of a property. This assessed value is determined by the county assessor and is a percentage of the property's market value. In Phoenix, homeowners can expect a tax bill that varies significantly depending on their property's value and location. For instance, the 25th percentile tax bill is $52, while the 75th percentile tax bill is $324. At the higher end, the 90th percentile tax bill reaches $463. Several factors influence these tax bills, including property type, improvements, and neighborhood market trends. Homeowners in the zip code 85037 experience the highest median tax bill of $556, which is significantly higher than the national median property tax rate of 0.99%. This variation in tax bills can affect homeowners' finances, making it essential to understand how these taxes are calculated and what exemptions or appeals might be available to reduce the burden.
Average Phoenix Tax Bill
$92
Average Pinal County Tax Bill
$1,519
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Phoenix, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85018 | $92 | $92 | $92 | $92 | $92 |
| 85020 | N/A | N/A | N/A | N/A | N/A |
| 85037 | $556 | $556 | $556 | $556 | $556 |
Source: Ownwell