Prescott Valley, Arizona Property Taxes
The median property tax rate in Prescott Valley, AZ is 0.44%, significantly lower than both the national median of 0.99% and the Arizona state median of 0.56%. With the median home value in Prescott Valley at $381,168, the typical annual property tax bill is $1,676, well below the national median of $2,690. Property taxes in Prescott Valley are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Prescott Valley'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 Prescott Valley 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
Prescott Valley, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,677
$1,556
Ownwell’s Prescott Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prescott Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prescott Valley 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 Prescott Valley, Arizona
Property taxes in Prescott Valley, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prescott Valley is 0.44%, which is lower than the U.S. national median of 0.99%. Local government entities within Prescott Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prescott Valley 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 Prescott Valley's effective property tax rate to other areas in Yavapai County and the national median. For comparison, the 86315 zip code has the highest median property tax rate of 0.46%, while the 86314 zip code has the lowest median tax rate of 0.44%. Understanding how these areas compare with Prescott Valley 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 Prescott Valley Tax Rate
0.44%
Average Yavapai County Tax Rate
0.44%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prescott Valley, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86314 | 0.35% | 0.38% | 0.44% | 0.49% | 0.57% |
| 86315 | 0.37% | 0.43% | 0.46% | 0.53% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Prescott Valley, Arizona
In Prescott Valley, 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 Prescott Valley, 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 highest median tax bill in Prescott Valley is $2,351 in zip code 86315, while the lowest is $1,502 in zip code 86314. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Prescott Valley, Arizona
Source: Ownwell
$12,822
$371,946
$731,070
Average Prescott Valley Assessed Value
$381,168
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 Prescott Valley, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86314 | $89,087 | $290,872 | $353,322 | $431,269 | $525,444 |
| 86315 | $342,671 | $401,322 | $489,675 | $607,111 | $760,039 |
Source: Ownwell
Property Tax Bills Across Prescott Valley, Arizona
In Prescott Valley, Yavapai County, AZ, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value, reflecting the property's worth in the real estate market. Various factors influence this assessed value, including location, property size, and any improvements made. Homeowners in Prescott Valley can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is $1,183, while those in the 75th percentile pay around $2,264. At the higher end, the 90th percentile tax bill reaches $2,923. The highest median tax bill is found in the 86315 zip code, at $2,351, compared to the lowest median tax bill of $1,502 in the 86314 zip code. These property taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners must budget for these taxes, as they can significantly affect annual expenses.
Average Prescott Valley Tax Bill
$1,676
Average Yavapai County Tax Bill
$1,504
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Prescott Valley, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 86314 | $463 | $1,072 | $1,502 | $1,973 | $2,561 |
| 86315 | $1,349 | $1,838 | $2,351 | $2,880 | $3,398 |
Source: Ownwell