Oatman, Arizona Property Taxes
The median property tax rate in Oatman, AZ is 0.51%, notably lower than both the national median of 0.99% and the Arizona state median of 0.56%. With the median home value in Oatman at $102,259, the typical annual property tax bill amounts to $526, significantly below the national median of $2,690. Property taxes in Oatman are based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Oatman’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 Oatman or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oatman, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$522
Ownwell’s Oatman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oatman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oatman 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 Oatman, Arizona
Property taxes in Oatman, Arizona, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oatman is 0.51%, which is lower than the U.S. national median of 0.99%. Local government entities within Oatman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oatman 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 Oatman's effective property tax rate to other areas in Arizona and the national median. For comparison, the 86433 zip code has the highest median property tax rate of 0.51%, while the same zip code has the lowest median tax rate of 0.51%. Understanding how these areas compare with Oatman 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 Oatman Tax Rate
0.51%
Average Mohave County Tax Rate
0.44%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oatman, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86433 | 0.35% | 0.42% | 0.51% | 0.59% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Oatman, Arizona
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oatman, 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 Mohave 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 Oatman, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 86433 has both the highest and lowest median tax bill at $526.
Average Oatman Assessed Value
$102,259
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 Oatman, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86433 | $24,388 | $60,888 | $102,259 | $140,243 | $223,573 |
Source: Ownwell
Property Tax Bills Across Oatman, Arizona
In Oatman, located in Mohave County, AZ, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Oatman is $102,259. Property taxes are determined by multiplying the assessed value by the local tax rate. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Oatman can expect tax bills to vary, with the 25th percentile tax bill at $232 and the 75th percentile at $644, indicating a range based on property values and specific assessments. The highest median tax bill in the area is $526, which is relatively low compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable, but it also means less revenue for local services funded by property taxes. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Oatman Tax Bill
$526
Average Mohave County Tax Bill
$975
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Oatman, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86433 | $110 | $232 | $526 | $644 | $1,159 |
Source: Ownwell