Sun Lakes, Arizona Property Taxes
The median property tax rate in Sun Lakes, AZ is 0.78%, 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 $351,300 in Sun Lakes, the typical annual property tax bill amounts to $2,623, slightly below the national median of $2,690. Property taxes in Sun Lakes are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Sun Lakes' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sun Lakes or another part of Maricopa County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sun Lakes, 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 SUN LAKES Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SUN LAKES with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SUN LAKES 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 Sun Lakes, Arizona
Property taxes in Sun Lakes, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sun Lakes is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Sun Lakes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sun Lakes 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 Sun Lakes' effective property tax rate to other areas in Maricopa County and the national median. For comparison, the zip code 85248 has both the highest and lowest median property tax rate of 0.78%. Understanding how these cities compare with Sun Lakes 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 Sun Lakes Tax Rate
0.78%
Average Maricopa County Tax Rate
0.52%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sun Lakes, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85248 | 0.62% | 0.69% | 0.78% | 0.87% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Sun Lakes, Arizona
In Sun Lakes, 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 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 Sun Lakes, 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 Sun Lakes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the zip code 85248 has the highest median tax bill at $2,623, while also having the lowest median tax bill at $2,623, reflecting the uniformity in property tax assessments within this community.
Average Sun Lakes Assessed Value
$351,300
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 Sun Lakes, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85248 | $108,500 | $288,350 | $351,300 | $429,700 | $504,230 |
Source: Ownwell
Property Tax Bills Across Sun Lakes, Arizona
In Sun Lakes, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The local taxing authorities in Maricopa County set the tax rates, which are then applied to the assessed value. For homeowners in Sun Lakes, the median home price is $351,300. Property tax bills can vary significantly, with the 25th percentile tax bill around $1,846 and the 75th percentile tax bill reaching $3,453. At the 90th percentile, homeowners might see tax bills as high as $4,342. These figures are influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Sun Lakes homeowners experience a range of tax bills that reflect the unique characteristics of their properties. Understanding these factors helps homeowners anticipate their tax obligations and plan accordingly, ensuring they are prepared for the financial responsibilities that come with property ownership.
Average Sun Lakes Tax Bill
$2,623
Average Maricopa County Tax Bill
$1,766
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Sun Lakes, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85248 | $1,071 | $1,846 | $2,623 | $3,453 | $4,342 |
Source: Ownwell