Grand Canyon, Arizona Property Taxes
The median property tax rate in Grand Canyon, AZ is 1.29%, considerably higher than both the national median of 0.99% and the Arizona state median of 0.56%. With the median home value in Grand Canyon, the typical annual property tax bill reaches $379, which is significantly lower than the national median of $2,690. Property taxes in Grand Canyon are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grand Canyon'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 Grand Canyon 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
Grand Canyon, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$386
Ownwell’s Grand Canyon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grand Canyon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grand Canyon 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 Grand Canyon, Arizona
Property taxes in Grand Canyon, Arizona, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand Canyon is 1.29%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Grand Canyon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grand Canyon 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 Grand Canyon's effective property tax rate to other areas in Arizona and the national median. For comparison, the zip code 86023 has both the highest and lowest median property tax rate of 1.29%. Understanding how these figures compare with Grand Canyon provides valuable insights into the varying tax landscape across Coconino County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grand Canyon Tax Rate
1.29%
Average Coconino County Tax Rate
0.54%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand Canyon, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86023 | 0.70% | 1.10% | 1.29% | 1.43% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Grand Canyon, Arizona
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Grand Canyon, 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 Coconino 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 Grand Canyon, 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 Grand Canyon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 86023 has the highest and lowest median tax bill at $379, reflecting the localized nature of property taxation.
Average Grand Canyon Assessed Value
$29,926
Average Coconino County Assessed Value
$335,366
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grand Canyon, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86023 | $5,843 | $14,995 | $29,926 | $41,988 | $78,995 |
Source: Ownwell
Property Tax Bills Across Grand Canyon, Arizona
In Grand Canyon, located in Coconino County, AZ, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this region experience property tax rates that are relatively lower compared to the national median property tax rate of 0.99%. The median home price in Grand Canyon is $29,926, and the property tax bill can vary significantly depending on the assessed value and specific tax rates applied. For instance, the 25th percentile tax bill in Grand Canyon is $178, while the 75th percentile tax bill is $595. At the 90th percentile, homeowners might see tax bills as high as $1,839. The highest and lowest median tax bills in the area are both $379, indicating a consistent tax rate across different properties. These property tax bills impact homeowners by influencing their overall housing affordability. Lower property taxes can make homeownership more accessible, while higher taxes might require more financial planning to manage annual payments.
Average Grand Canyon Tax Bill
$379
Average Coconino County Tax Bill
$1,766
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Canyon, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86023 | $62 | $178 | $379 | $595 | $1,839 |
Source: Ownwell