Truxton, Arizona Property Taxes
The median property tax rate in Truxton, AZ is 0.38%, significantly lower than both the national median of 0.99% and the Arizona state median of 0.56%. With the median home value in Truxton at $171,855, the typical annual property tax bill is $650, which is well below the national median of $2,690. Property taxes in Truxton 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 Truxton'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 Truxton 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
Truxton, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$653
Ownwell’s Truxton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Truxton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Truxton 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 Truxton, Arizona
Property taxes in Truxton, Arizona, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Truxton is 0.38%, which is significantly lower than both the Arizona state median and the U.S. national median of 0.99%. Local government entities within Truxton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Truxton 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 Truxton's effective property tax rate to other counties in Arizona and the national median. For comparison, the highest median property tax rate in Mohave County is 0.45%, while the lowest median tax rate is 0.31%. Understanding how these cities compare with Truxton 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 Truxton Tax Rate
0.38%
Average Mohave County Tax Rate
0.44%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Truxton, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86434 | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% |
Source: Ownwell
Property Tax Assessment Values Across Truxton, Arizona
In Truxton, 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 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 Truxton, 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 Truxton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $650, found in the 86434 zip code, which is notable given the national median property tax rate of 0.99%.
Average Truxton Assessed Value
$171,855
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 Truxton, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86434 | $171,855 | $171,855 | $171,855 | $171,855 | $171,855 |
Source: Ownwell
Property Tax Bills Across Truxton, Arizona
Property tax bills in Truxton, Mohave County, AZ, are determined by several key factors. The primary component is the assessed value of the property, which is a percentage of the market value. Local tax rates are then applied to this assessed value to calculate the annual tax bill. In Truxton, the median home price is $171,855, and the tax bills are relatively uniform, with the 25th, 75th, and 90th percentiles all at $650. This consistency suggests a stable tax rate in the area. Homeowners in Truxton benefit from property tax rates that are significantly lower than the national median of 0.99%. This lower tax burden can make homeownership more affordable, potentially increasing property values over time. However, it also means that local governments must carefully manage budgets to ensure adequate funding for public services. Understanding how these factors interplay can help homeowners anticipate their tax liabilities and plan accordingly.
Average Truxton Tax Bill
$650
Average Mohave County Tax Bill
$975
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Truxton, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86434 | $650 | $650 | $650 | $650 | $650 |
Source: Ownwell