Lake Havasu City, Arizona Property Taxes
The median property tax rate in Lake Havasu City, AZ is 0.36%, significantly lower than both the national median of 0.99% and the Arizona state median of 0.56%. With a median home value of $405,224, the typical annual property tax bill in Lake Havasu City is $1,363, which is well below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Lake Havasu City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lake Havasu City or another part of Mohave County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lake Havasu City, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$1,459
$1,354
Ownwell’s Lake Havasu City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Havasu City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Havasu City 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 Lake Havasu City, Arizona
Property taxes in Lake Havasu City, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Havasu City is 0.36%, significantly lower than both the Arizona state median and the U.S. national median of 0.99%. Local government entities within Lake Havasu City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Havasu City 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 Lake Havasu City's effective property tax rate to other counties in Arizona and the national median. Understanding how these cities compare with Lake Havasu City provides valuable insights into the varying tax landscape across Mohave County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Havasu City Tax Rate
0.36%
Average Mohave County Tax Rate
0.44%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Havasu City, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86403 | 0.24% | 0.29% | 0.35% | 0.43% | 0.71% |
| 86404 | 0.20% | 0.31% | 0.37% | 0.45% | 0.61% |
| 86406 | 0.23% | 0.30% | 0.35% | 0.41% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Lake Havasu City, Arizona
In Lake Havasu City, 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 Mohave 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. 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 Lake Havasu City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,477 in the 86406 zip code, while the lowest is $1,190 in the 86403 zip code.
Property Tax Assessment Values Across Lake Havasu City, Arizona
Source: Ownwell
$62,226
$249,337
$436,448
Average Lake Havasu City Assessed Value
$405,224
Average Mohave County Assessed Value
$255,876
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Havasu City, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86403 | $111,725 | $239,602 | $347,676 | $455,137 | $601,538 |
| 86404 | $101,498 | $309,366 | $417,806 | $565,370 | $734,919 |
| 86406 | $301,653 | $352,839 | $436,448 | $565,782 | $735,694 |
Source: Ownwell
Property Tax Bills Across Lake Havasu City, Arizona
In Lake Havasu City, located in Mohave County, AZ, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and is a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Lake Havasu City experience a range of property tax bills. For instance, the tax bill at the 25th percentile is approximately $891, while the 75th percentile tax bill is around $2008. At the 90th percentile, homeowners can expect to pay up to $2897. Comparatively, the highest median tax bill in the area is $1477 in the 86406 zip code, and the lowest is $1190 in the 86403 zip code. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners need to be aware of these costs, as they can significantly impact the affordability and overall cost of owning a home in Lake Havasu City.
Average Lake Havasu City Tax Bill
$1,363
Average Mohave County Tax Bill
$975
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Havasu City, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86403 | $400 | $734 | $1,190 | $1,744 | $2,398 |
| 86404 | $379 | $733 | $1,359 | $2,180 | $3,363 |
| 86406 | $755 | $1,092 | $1,477 | $2,100 | $2,945 |
Source: Ownwell