Oracle, Arizona Property Taxes
The median property tax rate in Oracle, AZ, is 0.63%, which is higher than the state median of 0.56% but still below the national median of 0.99%. With a median home value of $418,515, the typical annual property tax bill in Oracle is $2,481, slightly under the national median of $2,690. Property taxes in Oracle are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Oracle'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 Oracle 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
Oracle, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$2,637
Ownwell's Oracle Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Oracle. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Oracle to provide an accurate estimate of your property tax bill. This handy tool helps you gain a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value is the figure determined by Pinal County for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Oracle, Arizona
Property taxes in Oracle, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oracle is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Oracle set these rates annually, and they can vary across different neighborhoods. Each year, Oracle 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 Oracle's effective property tax rate to other areas and the national median. For comparison, the zip code 85623 has both the highest and lowest median property tax rate of 0.63%, identical to Oracle’s median rate. Understanding how these areas compare with Oracle 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 Oracle Tax Rate
0.63%
Average Pinal County Tax Rate
0.52%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oracle, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85623 | 0.45% | 0.55% | 0.63% | 0.69% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Oracle, Arizona
In Oracle, 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 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. Assessment notices in Oracle 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 Oracle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Oracle, both at $2,481, are found in the 85623 zip code.
Average Oracle Assessed Value
$418,515
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 Oracle, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85623 | $59,624 | $211,086 | $418,515 | $544,868 | $652,397 |
Source: Ownwell
Property Tax Bills Across Oracle, Arizona
In Oracle, 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 Oracle is $418,515. Property tax rates and the assessed value determine the final tax bill. Several factors influence the assessed value, including the property's market conditions, improvements, and the overall economic environment. Homeowners in Oracle can expect a wide range in their property tax bills. For instance, the tax bill at the 25th percentile is around $1,005, while at the 75th percentile, it rises to approximately $3,430. Those in the 90th percentile might see tax bills as high as $4,139. The highest and lowest median tax bills in Oracle are both $2,481, found in the zip code 85623. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for Oracle residents. Compared to the national median property tax rate of 0.99%, Oracle's property taxes reflect its unique local economic and market conditions.
Average Oracle Tax Bill
$2,481
Average Pinal County Tax Bill
$1,519
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Oracle, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85623 | $529 | $1,005 | $2,481 | $3,430 | $4,139 |
Source: Ownwell