Peoria, Arizona Property Taxes
The median property tax rate in Peoria, 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 of $342,700 in Peoria, the typical annual property tax bill amounts to $1,908, significantly below the national median of $2,690. Property taxes in Peoria are determined based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Peoria's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Peoria or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Peoria, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$1,816
Ownwell’s Peoria Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Peoria with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peoria to provide an estimated property tax bill. This intuitive tool offers valuable insights into your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Maricopa County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Peoria, Arizona
Property taxes in Peoria, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peoria is 0.53%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Peoria set these rates annually, and they can vary across different neighborhoods. Each year, Peoria 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 Peoria's effective property tax rate to other areas in Maricopa County and the national median. For comparison, the 85383 zip code has the highest median property tax rate of 0.60%, while the 85381 zip code has the lowest median tax rate of 0.49%. Understanding how these areas compare with Peoria 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 Peoria Tax Rate
0.53%
Average Maricopa County Tax Rate
0.52%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peoria, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85345 | 0.27% | 0.32% | 0.37% | 0.44% | 0.50% |
| 85381 | 0.37% | 0.44% | 0.49% | 0.54% | 0.60% |
| 85382 | 0.46% | 0.50% | 0.56% | 0.64% | 0.70% |
| 85383 | 0.48% | 0.53% | 0.60% | 0.69% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Peoria, Arizona
In Peoria, 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 Peoria, 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 Peoria is $342,700. The highest median tax bill is $2,778 in the 85383 zip code, while the lowest median tax bill is $935 in the 85345 zip code. 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 Peoria helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Peoria Assessed Value
$342,700
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 Peoria, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85345 | $178,300 | $233,300 | $260,300 | $287,300 | $323,100 |
| 85381 | $236,100 | $291,100 | $328,300 | $394,400 | $483,900 |
| 85382 | $236,690 | $277,700 | $323,700 | $377,725 | $425,800 |
| 85383 | $333,200 | $384,500 | $465,500 | $565,800 | $703,700 |
Source: Ownwell
Property Tax Bills Across Peoria, Arizona
In Peoria, 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. The assessed value is a percentage of the property's market value. Once the assessed value is established, the tax rate, set by local taxing authorities, is applied to calculate the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For instance, the median home price in Peoria is $342,700. Homeowners in the 25th percentile can expect a tax bill around $1,204, whereas those in the 75th percentile might pay approximately $2,675. The 90th percentile sees tax bills as high as $3,665. The highest median tax bill in Peoria is $2,778 in the 85383 zip code, while the lowest is $935 in the 85345 zip code. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners.
Average Peoria Tax Bill
$1,908
Average Maricopa County Tax Bill
$1,766
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Peoria, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85345 | $529 | $712 | $935 | $1,200 | $1,524 |
| 85381 | $917 | $1,306 | $1,594 | $2,062 | $2,721 |
| 85382 | $1,126 | $1,465 | $1,824 | $2,238 | $2,704 |
| 85383 | $1,923 | $2,276 | $2,778 | $3,616 | $4,815 |
Source: Ownwell