Dewey, Arizona Property Taxes
The median property tax rate in Dewey, AZ is 0.50%, significantly lower than both the national median of 0.99% and the Arizona state median of 0.56%. With the median home value in Dewey at $344,422, the typical annual property tax bill is $1,627, which is well below the national median of $2,690. Property taxes in Dewey are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dewey'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 Dewey 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
Dewey, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$1,722
$1,598
Ownwell’s Dewey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dewey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dewey 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 Dewey, Arizona
Property taxes in Dewey, Arizona, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Dewey is 0.50%, which is lower than both the Arizona state median and the U.S. national median of 0.99%. Local government entities within Dewey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dewey 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 Dewey's effective property tax rate to other counties in Arizona and the national median. For comparison, the zip code 86327 has the highest median property tax rate of 0.50%, while the same zip code also has the lowest median tax rate of 0.50%. Understanding how these cities compare with Dewey provides valuable insights into the varying tax landscape across Yavapai County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dewey Tax Rate
0.50%
Average Yavapai County Tax Rate
0.44%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dewey, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86327 | 0.38% | 0.45% | 0.50% | 0.59% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Dewey, Arizona
In Dewey, 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 Yavapai 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 Dewey, 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 Dewey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 86327 in Dewey has the highest median tax bill at $1,627, which is significantly below the national median property tax rate of 0.99%.
Average Dewey Assessed Value
$344,422
Average Yavapai County Assessed Value
$367,324
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dewey, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86327 | $83,910 | $145,193 | $344,422 | $429,940 | $543,612 |
Source: Ownwell
Property Tax Bills Across Dewey, Arizona
In Dewey, located in Yavapai County, AZ, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the local tax assessor's office and is typically a percentage of the market value of the home. For instance, a median home priced at $344,422 would have its tax bill calculated using this assessed value. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. Homeowners in Dewey can expect property tax bills ranging from $834 at the 25th percentile to $2,680 at the 90th percentile. The median property tax rate in Dewey is in line with the national median of 0.99%, but individual tax bills can vary significantly. For homeowners, understanding these calculations is crucial as property taxes represent a significant annual expense. Accurate assessments ensure fair taxation, while awareness of potential exemptions can lead to substantial savings. This system ensures that property taxes are equitably distributed based on property values and specific local factors.
Average Dewey Tax Bill
$1,627
Average Yavapai County Tax Bill
$1,504
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Dewey, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86327 | $497 | $834 | $1,627 | $2,170 | $2,680 |
Source: Ownwell