Gilbert, Arizona Property Taxes
The median property tax rate in Gilbert, AZ is 0.51%, significantly lower than both the national median of 0.99% and the Arizona state median of 0.56%. With the median home value in Gilbert at $411,100, the typical annual property tax bill is $2,153, falling below the national median of $2,690. Property taxes in Gilbert are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gilbert'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 Gilbert 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
Gilbert, Arizona Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,120
Ownwell’s Gilbert Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilbert with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilbert 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 Gilbert, Arizona
Property taxes in Gilbert, Arizona, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Gilbert is 0.51%, which is significantly lower than both the Arizona state median and the U.S. national median of 0.99%. Local government entities within Gilbert set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gilbert 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 Gilbert's effective property tax rate to other areas in Maricopa County and the national median. For comparison, the 85298 zip code has the highest median property tax rate of 0.54%, while the 85233 zip code has the lowest median tax rate of 0.49%. Understanding how these areas compare with Gilbert provides valuable insights into the varying tax landscape across Maricopa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gilbert Tax Rate
0.51%
Average Maricopa County Tax Rate
0.52%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilbert, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85233 | 0.38% | 0.44% | 0.49% | 0.54% | 0.60% |
| 85234 | 0.40% | 0.45% | 0.50% | 0.56% | 0.62% |
| 85295 | 0.45% | 0.48% | 0.52% | 0.57% | 0.62% |
| 85296 | 0.42% | 0.45% | 0.49% | 0.54% | 0.59% |
| 85297 | 0.46% | 0.48% | 0.53% | 0.58% | 0.66% |
| 85298 | 0.46% | 0.49% | 0.54% | 0.61% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Gilbert, Arizona
In Gilbert, 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 Maricopa 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 Gilbert, 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 Gilbert helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Gilbert is $2,695 in the 85298 zip code, while the lowest median tax bill is $1,857 in the 85233 zip code.
Average Gilbert Assessed Value
$411,100
Average Maricopa County Assessed Value
$328,300
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gilbert, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85233 | $284,800 | $322,100 | $374,300 | $445,775 | $514,800 |
| 85234 | $288,790 | $331,500 | $391,500 | $480,525 | $636,010 |
| 85295 | $304,500 | $338,800 | $404,200 | $493,100 | $602,100 |
| 85296 | $305,600 | $337,000 | $390,800 | $487,600 | $618,460 |
| 85297 | $326,100 | $361,200 | $428,700 | $534,600 | $685,180 |
| 85298 | $366,040 | $416,000 | $493,800 | $606,600 | $804,200 |
Source: Ownwell
Property Tax Bills Across Gilbert, Arizona
Property tax bills in Gilbert, located in Maricopa County, AZ, are calculated based on the assessed value of the property, which is a percentage of the market value. The local property tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including property size, location, and improvements made to the property. In Gilbert, the median home price stands at $411,100. Property tax bills can vary significantly, with the 25th percentile at $1,714 and the 75th percentile reaching $2,749. The 90th percentile tax bill is even higher at $3,626. The highest median tax bill in Gilbert is found in the 85298 zip code, amounting to $2,695, while the lowest is in the 85233 zip code at $1,857. These property taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting homeowners by supporting community amenities and overall quality of life.
Average Gilbert Tax Bill
$2,153
Average Maricopa County Tax Bill
$1,766
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilbert, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85233 | $1,063 | $1,445 | $1,857 | $2,336 | $2,845 |
| 85234 | $1,166 | $1,524 | $1,995 | $2,621 | $3,569 |
| 85295 | $1,478 | $1,762 | $2,119 | $2,650 | $3,358 |
| 85296 | $1,348 | $1,613 | $1,972 | $2,510 | $3,259 |
| 85297 | $1,593 | $1,882 | $2,272 | $2,920 | $4,032 |
| 85298 | $1,965 | $2,266 | $2,695 | $3,354 | $4,449 |
Source: Ownwell