Corona, Arizona Property Taxes
The median property tax rate in Corona, AZ is 0.84%, which is lower than the national median of 0.99% but significantly higher than the Arizona state median of 0.56%. With the median home value in Corona at $327,812, the typical annual property tax bill reaches $2,742, slightly below the national median of $2,690. Property taxes in Corona are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Corona'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 Corona 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
Corona, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$2,754
$2,555
Ownwell’s Corona Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Corona with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Corona 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 Corona, Arizona
Property taxes in Corona, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Corona is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Corona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Corona 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. Understanding how Corona's effective property tax rate compares with other regions in Pima County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Corona Tax Rate
0.84%
Average Pima County Tax Rate
0.81%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Corona, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85641 | 0.75% | 0.78% | 0.84% | 0.89% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Corona, Arizona
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Corona, 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 Pima 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 Corona, 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 Corona helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $2,742 in zip code 85641, while the lowest median tax bill is also $2,742 in the same zip code. Understanding these details can significantly impact your financial planning and property tax management.
Average Corona Assessed Value
$327,812
Average Pima County Assessed Value
$262,759
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Corona, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85641 | $324,714 | $325,875 | $327,812 | $329,748 | $330,910 |
Source: Ownwell
Property Tax Bills Across Corona, Arizona
In Corona, located in Pima County, AZ, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is a percentage of the market value, which is determined by the county assessor. For instance, with a median home price of $327,812, the assessed value is used as the base for calculating the tax bill. The tax rate in Pima County is influenced by various factors, including local government budgets, school funding, and public services. Homeowners in Corona can expect their tax bills to vary, with the 25th percentile tax bill at $2,544 and the 75th percentile at $2,940. The 90th percentile tax bill reaches up to $3,059, indicating a range based on property value and other factors. These property taxes significantly impact homeowners by contributing to essential services such as education, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Corona homeowners experience a relatively higher tax burden, reflecting the specific needs and budgetary requirements of the local community.
Average Corona Tax Bill
$2,742
Average Pima County Tax Bill
$2,088
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Corona, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85641 | $2,425 | $2,544 | $2,742 | $2,940 | $3,059 |
Source: Ownwell