Central, Arizona Property Taxes
The median property tax rate in Central, AZ is 0.55%, slightly below both the national median of 0.99% and Arizona's state median of 0.56%. With the median home value in Central at $245,408, the typical annual property tax bill is $1,244, which is significantly lower than the national median of $2,690. Property taxes in Central are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Central'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 Central 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
Central, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,350
Ownwell’s CENTRAL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CENTRAL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CENTRAL 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 Central, Arizona
Property taxes in CENTRAL, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in CENTRAL is 0.55%, which is lower than both the Arizona state median and the U.S. national median of 0.99%. Local government entities within CENTRAL set these rates annually, and they can vary significantly across different neighborhoods. Each year, CENTRAL 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 CENTRAL's effective property tax rate to other counties in Arizona and the national median. For comparison, the 85531 zip code has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with CENTRAL provides valuable insights into the varying tax landscape across Graham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Central Tax Rate
0.55%
Average Graham County Tax Rate
0.57%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Central, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85531 | 0.45% | 0.51% | 0.55% | 0.62% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Central, Arizona
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Central, 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 Graham County Appraisal District 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. For instance, the median home price in Central is $245,408, with tax bills ranging from $626 at the 25th percentile to $2,476 at the 90th percentile. The highest and lowest median tax bills are both $1,244, found in the 85531 zip code. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Central Assessed Value
$245,408
Average Graham County Assessed Value
$149,866
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Central, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85531 | $54,140 | $106,589 | $245,408 | $358,518 | $470,652 |
Source: Ownwell
Property Tax Bills Across Central, Arizona
In CENTRAL, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in this area is $245,408, and property taxes are calculated based on this assessed value. Factors such as the home's location within Graham County, its size, and any applicable exemptions also play a role in determining the final tax bill. Homeowners in CENTRAL can expect to pay between $626 and $1,937 annually, depending on the assessed value of their property, with the 90th percentile reaching up to $2,476. The highest and lowest median tax bills within the zip code 85531 are both $1,244, reflecting a consistent tax rate across the region. Compared to the national median property tax rate of 0.99%, CENTRAL’s property taxes can significantly impact homeowners' budgets, making it essential for residents to understand how their tax bills are calculated and what factors influence them.
Average Central Tax Bill
$1,244
Average Graham County Tax Bill
$834
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Central, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85531 | $406 | $626 | $1,244 | $1,937 | $2,476 |
Source: Ownwell