Eloy, Arizona Property Taxes
The median property tax rate in Eloy, AZ is 0.74%, 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 $196,651 in Eloy, the typical annual property tax bill amounts to $1,039, significantly below the national median of $2,690. Property taxes in Eloy are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Eloy'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 Eloy or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eloy, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,455
Ownwell’s Eloy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eloy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eloy 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 Eloy, Arizona
Property taxes in Eloy, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eloy is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Eloy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eloy 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 Eloy's effective property tax rate to other regions and the national median. For comparison, the zip code 85131 has both the highest and lowest median property tax rate of 0.74%. Understanding how these areas compare with Eloy provides valuable insights into the varying tax landscape across Pinal County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eloy Tax Rate
0.74%
Average Pinal County Tax Rate
0.52%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eloy, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85131 | 0.40% | 0.58% | 0.74% | 0.87% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Eloy, Arizona
In Eloy, 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 Pinal 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 Eloy, 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 Eloy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 85131 has both the highest and lowest median tax bill at $1,039, illustrating the variability within the region.
Average Eloy Assessed Value
$196,651
Average Pinal County Assessed Value
$319,292
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eloy, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85131 | $18,829 | $68,296 | $196,651 | $337,472 | $434,313 |
Source: Ownwell
Property Tax Bills Across Eloy, Arizona
In Eloy, located in Pinal 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 Eloy is $196,651. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. Homeowners in Eloy typically see a range of tax bills; the 25th percentile tax bill is around $425, while the 75th percentile reaches up to $2,519, and the 90th percentile can go as high as $3,402. These figures demonstrate the variability in tax bills based on property values and assessment rates. Compared to the national median property tax rate of 0.99%, Eloy's property tax bills can be relatively moderate or high, depending on the specific property. The highest median tax bill in Eloy is $1,039, found in the 85131 zip code, which also represents the lowest median tax bill, indicating a consistent taxation rate across the area. Understanding these factors helps homeowners anticipate their annual property tax obligations.
Average Eloy Tax Bill
$1,039
Average Pinal County Tax Bill
$1,519
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Eloy, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85131 | $131 | $425 | $1,039 | $2,519 | $3,402 |
Source: Ownwell