Miami, Arizona Property Taxes
The median property tax rate in Miami, Arizona is 0.55%, slightly below the state median of 0.56% and considerably lower than the national median of 0.99%. With a median home value of $130,486, the typical annual property tax bill in Miami is $808, which is significantly less than the national median of $2,690. Property taxes in Miami are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Miami'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 Miami 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
Miami, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$718
Ownwell’s Miami Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Miami with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Miami to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more granular insights, scrolling down reveals trends at the neighborhood level. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Miami, Arizona
Property taxes in Miami, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Miami stands at 0.55%, which is significantly lower than both the Arizona state median and the U.S. national median of 0.99%. Local government entities within Miami set these rates annually, and they can vary significantly across different neighborhoods. Each year, Miami 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 Miami's effective property tax rate to other counties in Arizona and the national median. For comparison, the 85539 zip code has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Miami 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 Miami Tax Rate
0.55%
Average Pinal County Tax Rate
0.52%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Miami, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85539 | 0.39% | 0.47% | 0.55% | 0.66% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Miami, Arizona
In Miami, 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 Appraisal District 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 Miami, 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. The zip code with the highest median tax bill in Miami is 85539, with a tax bill of $808. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Miami Assessed Value
$130,486
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 Miami, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85539 | $47,928 | $94,037 | $130,486 | $233,054 | $335,786 |
Source: Ownwell
Property Tax Bills Across Miami, Arizona
In Miami, Pinal County, AZ, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. The tax rate, or millage rate, is then applied to the assessed value to determine the tax bill. Homeowners in Miami see a range of tax bills, with the 25th percentile at $443 and the 75th percentile at $1266. The 90th percentile tax bill reaches up to $1838. Various factors influence the tax bill, including changes in property values, local government budgets, and voter-approved measures. For homeowners, these tax bills can impact their overall housing costs and affordability. Compared to the national median property tax rate of 0.99%, Miami's property tax rates can be relatively moderate, but individual experiences may vary based on the specific assessed value of their property and the applied tax rate.
Average Miami Tax Bill
$808
Average Pinal County Tax Bill
$1,519
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Miami, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85539 | $192 | $443 | $808 | $1,266 | $1,838 |
Source: Ownwell