Cornville, Arizona Property Taxes
The median property tax rate in Cornville, AZ is 0.53%, which is notably lower than both the national median of 0.99% and the Arizona state median of 0.56%. With a median home value in Cornville of $404,938, the typical annual property tax bill amounts to $2,130, which is below the national median of $2,690. Property taxes in Cornville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Cornville'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 Cornville 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
Cornville, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$2,146
Ownwell’s Cornville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cornville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cornville 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 Cornville, Arizona
Property taxes in Cornville, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cornville is 0.53%, which is lower than the U.S. national median of 0.99%. Local government entities within Cornville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cornville 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. Understanding how Cornville's effective property tax rate compares to other areas in Yavapai County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cornville Tax Rate
0.53%
Average Yavapai County Tax Rate
0.44%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cornville, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86325 | 0.43% | 0.48% | 0.53% | 0.59% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Cornville, Arizona
In Cornville, 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 Yavapai 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 Cornville, 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 Cornville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 86325 has the highest and lowest median tax bill at $2,130.
Average Cornville Assessed Value
$404,938
Average Yavapai County Assessed Value
$367,324
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cornville, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86325 | $85,394 | $226,758 | $404,938 | $521,483 | $687,782 |
Source: Ownwell
Property Tax Bills Across Cornville, Arizona
In Cornville, located in Yavapai County, AZ, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. For instance, with a median home price of $404,938, the tax bill can vary significantly depending on the specific assessment and tax rate applied. Homeowners in Cornville typically see tax bills ranging from $1,203 at the 25th percentile to $2,741 at the 75th percentile, with the 90th percentile reaching up to $3,697. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Cornville's tax rates can be relatively moderate, providing some relief to homeowners. Understanding these factors and how they interplay is crucial for homeowners to anticipate their annual property tax obligations and manage their finances accordingly.
Average Cornville Tax Bill
$2,130
Average Yavapai County Tax Bill
$1,504
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Cornville, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86325 | $473 | $1,203 | $2,130 | $2,741 | $3,697 |
Source: Ownwell