Parks, Arizona Property Taxes
The median property tax rate in Parks, AZ is 0.53%, lower than both the national median of 0.99% and the Arizona state median of 0.56%. With a median home value of $286,689 in Parks, the typical annual property tax bill amounts to $1,283, which is below the national median of $2,690. Property taxes in Parks are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Parks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Parks 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
Parks, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$1,519
Ownwell’s PARKS Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in PARKS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PARKS 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 Parks, Arizona
Property taxes in Parks, Arizona, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parks is 0.53%, which is lower than the U.S. national median of 0.99%. Local government entities within Parks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parks 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 Parks' effective property tax rate to other counties in Arizona and the national median. For comparison, the zip code 86018 has both the highest and lowest median property tax rate of 0.53%. Understanding how these cities compare with Parks provides valuable insights into the varying tax landscape across Coconino County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Parks Tax Rate
0.53%
Average Coconino County Tax Rate
0.54%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parks, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86018 | 0.33% | 0.42% | 0.53% | 0.68% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Parks, Arizona
In Parks, 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 Coconino 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 Parks, 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 Parks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 86018 has the highest and lowest median tax bill at $1,283.
Average Parks Assessed Value
$286,689
Average Coconino County Assessed Value
$335,366
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parks, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86018 | $40,230 | $118,602 | $286,689 | $447,131 | $670,585 |
Source: Ownwell
Property Tax Bills Across Parks, Arizona
In Parks, located in Coconino County, AZ, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Parks is $286,689. Property tax bills in this region can vary significantly, with the 25th percentile at $627 and the 75th percentile at $2,143, reflecting the range of property values and corresponding tax amounts. The highest median tax bill in the area is $1,283, and interestingly, the lowest median tax bill is the same, indicating a uniformity in median tax bills across different areas within the zip code 86018. Several factors are considered when determining the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For homeowners, these taxes fund essential services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, Parks offers a varied but manageable range of property tax bills, impacting homeowners based on their specific property valuations and local tax policies.
Average Parks Tax Bill
$1,283
Average Coconino County Tax Bill
$1,766
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Parks, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86018 | $230 | $627 | $1,283 | $2,143 | $3,391 |
Source: Ownwell