Picacho, Arizona Property Taxes
The median property tax rate in Picacho, AZ is 1.05%, slightly higher than the national median of 0.99% and significantly above the Arizona state median of 0.56%. With the median home value in Picacho at $31,372, the typical annual property tax bill amounts to $216, which is considerably lower than the national median of $2,690. Property taxes in Picacho are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Picacho'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 Picacho 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
Picacho, 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 Picacho Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Picacho with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Picacho 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 Picacho, Arizona
Property taxes in Picacho, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Picacho is 1.05%, which is higher than the U.S. national median of 0.99%. Local government entities within Picacho set these rates annually, and they can vary significantly across different neighborhoods. Each year, Picacho 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 Picacho's effective property tax rate to other counties in Arizona and the national median. For comparison, the 85141 zip code has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Picacho 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 Picacho Tax Rate
1.05%
Average Pinal County Tax Rate
0.52%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Picacho, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85141 | 0.47% | 0.55% | 1.05% | 1.19% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Picacho, Arizona
In Picacho, 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's Office 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 Picacho, 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 Picacho helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $216 in the 85141 zip code, which is also the lowest, providing a clear picture of the local tax landscape.
Average Picacho Assessed Value
$31,372
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 Picacho, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85141 | $3,547 | $7,432 | $31,372 | $64,930 | $90,837 |
Source: Ownwell
Property Tax Bills Across Picacho, Arizona
In Picacho, located in Pinal County, AZ, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which in this case is determined by local tax authorities. For homeowners in Picacho, the median home price is $31,372. Property taxes are then calculated by applying the local tax rate to this assessed value. The median property tax rate in the United States is 0.99%, but local rates can vary. Homeowners in Picacho can expect their tax bills to range significantly. For instance, tax bills at the 25th percentile are around $82, while those at the 75th percentile reach $414. The 90th percentile sees tax bills as high as $590. These variations are influenced by factors such as property improvements, neighborhood developments, and changes in market conditions. Understanding how these elements contribute to the property tax calculation can help homeowners better anticipate their annual tax obligations.
Average Picacho Tax Bill
$216
Average Pinal County Tax Bill
$1,519
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Picacho, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85141 | $42 | $82 | $216 | $414 | $590 |
Source: Ownwell