Carefree, Arizona Property Taxes
The median property tax rate in Carefree, Arizona is 0.32%, significantly lower than both the national median of 0.99% and the Arizona state median of 0.56%. With the median home value in Carefree at $751,950, the typical annual property tax bill reaches $2,401, which is below the national median of $2,690. Property taxes in Carefree are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Carefree'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 Carefree 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
Carefree, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$2,406
Ownwell’s Carefree Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carefree with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carefree 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 Carefree, Arizona
Property taxes in Carefree, Arizona, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carefree is 0.32%, which is significantly lower than both the Arizona state median and the U.S. national median of 0.99%. Local government entities within Carefree set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carefree 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 Carefree's effective property tax rate to other counties in Arizona and the national median. For comparison, the highest median property tax rate in the area is 1.09%, while the lowest median tax rate is 0.32%. Understanding how these cities compare with Carefree provides valuable insights into the varying tax landscape across Maricopa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carefree Tax Rate
0.32%
Average Maricopa County Tax Rate
0.52%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carefree, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85377 | 0.25% | 0.29% | 0.32% | 0.36% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Carefree, Arizona
In Carefree, 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 Maricopa 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 Carefree, 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. The median home price in Carefree is $751,950, and understanding these valuation concepts can help property owners navigate their tax responsibilities. For instance, the 25th percentile tax bill is $1,664 while the 75th percentile tax bill is $3,413. By being aware of these processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Carefree Assessed Value
$751,950
Average Maricopa County Assessed Value
$328,300
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carefree, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85377 | $343,670 | $524,200 | $751,950 | $1,042,450 | $1,423,420 |
Source: Ownwell
Property Tax Bills Across Carefree, Arizona
In Carefree, located in Maricopa County, AZ, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is typically a percentage of the market value of the property. Various factors such as property size, location, and improvements are taken into account during the assessment process. Homeowners in Carefree experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $1,664, while at the 75th percentile, it rises to $3,413. The 90th percentile sees tax bills as high as $4,876. The median home price in Carefree is $751,950, which influences the overall tax amount. Compared to the national median property tax rate of 0.99%, Carefree's property tax rates can significantly impact homeowners, affecting their annual financial planning and overall cost of living. The highest and lowest median tax bills in the area are both recorded at $2,401 in the 85377 zip code, indicating a relatively consistent tax burden within the community.
Average Carefree Tax Bill
$2,401
Average Maricopa County Tax Bill
$1,766
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Carefree, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85377 | $1,017 | $1,664 | $2,401 | $3,413 | $4,876 |
Source: Ownwell