Somerton, Arizona Property Taxes
The median property tax rate in Somerton, AZ is 0.81%, lower than the national median of 0.99% but higher than the Arizona state median of 0.56%. With a median home value of $162,343 in Somerton, the typical annual property tax bill amounts to $1,294, which is below the national median of $2,690. Property taxes in Somerton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Somerton'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 Somerton 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
Somerton, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,315
Ownwell’s Somerton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Somerton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Somerton 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 Somerton, Arizona
Property taxes in Somerton, Arizona, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Somerton is 0.81%, which is lower than both the Arizona state median and the U.S. national median of 0.99%. Local government entities within Somerton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Somerton 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 Somerton's effective property tax rate to other counties in Arizona and the national median. For comparison, the zip code 85350 has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Somerton provides valuable insights into the varying tax landscape across Yuma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Somerton Tax Rate
0.81%
Average Yuma County Tax Rate
0.88%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Somerton, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85350 | 0.49% | 0.70% | 0.81% | 0.90% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Somerton, Arizona
In Somerton, 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 Yuma 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 Somerton, 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 Somerton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Somerton are both $1294, found in the 85350 zip code. The 25th percentile tax bill is $883, while the 75th percentile tax bill is $1750, and the 90th percentile tax bill is $2158.
Average Somerton Assessed Value
$162,343
Average Yuma County Assessed Value
$140,081
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Somerton, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85350 | $65,618 | $124,137 | $162,343 | $207,874 | $253,271 |
Source: Ownwell
Property Tax Bills Across Somerton, Arizona
In Somerton, located in Yuma County, AZ, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the market value of the home, which is determined by county assessors. For homeowners in Somerton, the median home price is $162,343. Property tax rates can vary, but in Somerton, the median property tax bill is $1,294. This amount can fluctuate depending on where a property falls within the range of assessed values. For example, at the 25th percentile, the tax bill is approximately $883, while at the 75th percentile, it reaches about $1,750. At the higher end, the 90th percentile tax bill can go up to $2,158. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial as they directly impact annual financial planning and the overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Somerton's rates reflect the local economic conditions and funding requirements.
Average Somerton Tax Bill
$1,294
Average Yuma County Tax Bill
$1,106
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Somerton, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85350 | $333 | $883 | $1,294 | $1,750 | $2,158 |
Source: Ownwell