Vernon, Arizona Property Taxes
The median property tax rate in Vernon, AZ is 0.70%, which is significantly lower than the national median of 0.99% but higher than the Arizona state median of 0.56%. With a median home value of $102,629 in Vernon, the typical annual property tax bill amounts to $720, well below the national median of $2,690. Property taxes in Vernon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Vernon'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 Vernon 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
Vernon, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$718
$667
Ownwell’s Vernon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vernon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vernon 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 Vernon, Arizona
Property taxes in Vernon, Arizona, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vernon is 0.70%, lower than both the Arizona state median and the U.S. national median of 0.99%. Local government entities within Vernon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vernon 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 Vernon's effective property tax rate to other counties in Arizona and the national median. For comparison, the 85940 zip code has the highest median property tax rate of 0.70%, while the 85940 zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Vernon provides valuable insights into the varying tax landscape across Apache County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Vernon Tax Rate
0.70%
Average Apache County Tax Rate
0.45%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vernon, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85940 | 0.45% | 0.56% | 0.70% | 0.84% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Vernon, Arizona
In Vernon, 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 Apache 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. 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 Vernon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Vernon, the zip code 85940 has both the highest and lowest median tax bill at $720.
Average Vernon Assessed Value
$102,629
Average Apache County Assessed Value
$114,458
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vernon, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85940 | $15,032 | $44,360 | $102,629 | $238,245 | $380,599 |
Source: Ownwell
Property Tax Bills Across Vernon, Arizona
In Vernon, located in Apache County, AZ, property tax bills are calculated based on the assessed value of your home, which is a percentage of the market value. The median home price in Vernon is $102,629, and the assessed value is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine your annual tax bill. Factors such as home improvements, neighborhood developments, and changes in the real estate market can influence your home's assessed value. For example, a home in the 25th percentile may face a tax bill of around $322, while a home in the 75th percentile could see a tax bill of approximately $1,370. The highest tax bills, reaching the 90th percentile, can be as much as $2,073. Compared to the national median property tax rate of 0.99%, Vernon's property tax rates offer a range that can significantly impact homeowners, making it essential to understand how these factors affect your annual tax obligations.
Average Vernon Tax Bill
$720
Average Apache County Tax Bill
$448
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Vernon, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85940 | $124 | $322 | $720 | $1,370 | $2,073 |
Source: Ownwell