Colorado City, Arizona Property Taxes
The median property tax rate in Colorado City, AZ 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 Colorado City at $270,804, the typical annual property tax bill is $918, which is well below the national median of $2,690. Property taxes in Colorado City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Colorado City'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 Colorado City or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Colorado City, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$867
Ownwell’s Colorado City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Colorado City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Colorado City 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 Colorado City, Arizona
Property taxes in Colorado City, Arizona, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Colorado City 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 Colorado City set these rates annually, leading to variations across different neighborhoods. Each year, Colorado City estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided 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 foundation for setting property tax rates. Comparing Colorado City's effective property tax rate to other regions in Arizona and the national median offers valuable insights into the varying tax landscape across Mohave County, helping homeowners understand their property tax obligations relative to neighboring areas.
Average Colorado City Tax Rate
0.32%
Average Mohave County Tax Rate
0.44%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colorado City, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86021 | 0.22% | 0.29% | 0.32% | 0.47% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Colorado City, Arizona
In Colorado City, 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 Mohave 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 Colorado City, 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 Colorado City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Mohave County, the median home price is $270,804. The tax bill for the 25th percentile is $561, while the 75th percentile tax bill is $1,483. The highest median tax bill in the area is $918, found in the 86021 zip code, which is also the lowest median tax bill for the region.
Average Colorado City Assessed Value
$270,804
Average Mohave County Assessed Value
$255,876
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colorado City, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86021 | $110,660 | $170,534 | $270,804 | $388,216 | $597,325 |
Source: Ownwell
Property Tax Bills Across Colorado City, Arizona
In Colorado City, Mohave 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 the area stands at $270,804. The property tax rate, applied to this assessed value, determines the tax bill for homeowners. Various factors influence this calculation, including the property's location, size, and any applicable exemptions. Homeowners in Colorado City can expect a wide range of tax bills. At the 25th percentile, tax bills are around $561, while at the 75th percentile, they rise to approximately $1,483. For those at the 90th percentile, tax bills can reach up to $2,400. The highest and lowest median tax bills in the area are both $918, found in the 86021 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Colorado City experience variability in their tax obligations, which can significantly impact their annual financial planning.
Average Colorado City Tax Bill
$918
Average Mohave County Tax Bill
$975
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Colorado City, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86021 | $279 | $561 | $918 | $1,483 | $2,400 |
Source: Ownwell