Rio Rico, Arizona Property Taxes
The median property tax rate in Rio Rico, AZ is 0.87%, which is lower than the national median of 0.99% but higher than the Arizona state median of 0.56%. With a median home value of $142,990 in Rio Rico, the typical annual property tax bill amounts to $1,217, falling below the national median of $2,690. Property taxes in Rio Rico are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Rio Rico'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 Rio Rico 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
Rio Rico, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,244
Ownwell’s RIO RICO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RIO RICO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RIO RICO 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 Rio Rico, Arizona
Property taxes in Rio Rico, Arizona, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Rio Rico is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Rio Rico set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rio Rico 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 Rio Rico's effective property tax rate to other areas in Arizona and the national median. For comparison, the 85648 zip code has the same median property tax rate of 0.87%. Understanding how these areas compare with Rio Rico provides valuable insights into the varying tax landscape across Santa Cruz County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rio Rico Tax Rate
0.87%
Average Santa Cruz County Tax Rate
0.85%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rio Rico, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85648 | 0.70% | 0.79% | 0.87% | 0.97% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Rio Rico, Arizona
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rio Rico, Arizona. 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 Santa Cruz 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 Rio Rico, 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. For example, the median home price in Rio Rico is $142,990, with tax bills ranging from $971 at the 25th percentile to $2,397 at the 90th percentile. The highest and lowest median tax bills, both at $1,217, are found in the 85648 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rio Rico Assessed Value
$142,990
Average Santa Cruz County Assessed Value
$140,525
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rio Rico, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85648 | $100,754 | $117,574 | $142,990 | $193,536 | $255,908 |
Source: Ownwell
Property Tax Bills Across Rio Rico, Arizona
In Rio Rico, Santa Cruz 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 typically represents a percentage of the property's market value. For homeowners in Rio Rico, the median home price is $142,990. Property tax bills vary significantly, with the 25th percentile paying around $971, while those in the 75th percentile face bills of approximately $1,755. At the 90th percentile, tax bills can reach up to $2,397. Factors such as property improvements, changes in market conditions, and local tax rates influence the final tax bill. The highest and lowest median tax bills in Rio Rico are both $1,217, indicating a relatively consistent tax burden across the area. Compared to the national median property tax rate of 0.99%, homeowners in Rio Rico may experience varying impacts on their finances, depending on their property's assessed value and the local tax rate.
Average Rio Rico Tax Bill
$1,217
Average Santa Cruz County Tax Bill
$1,184
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Rio Rico, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85648 | $809 | $971 | $1,217 | $1,755 | $2,397 |
Source: Ownwell