Hello,
I would like to clarify that property taxes are based on the assessed value. The taxes are not based on the listed sales prices attached to homes.
The actual tax depends on the address and neighborhood ammenities. Cities, schools, water districts, community colleges, bond issues--all these come in to play when determining your specific tax rate by the state.
The average tax rate on homes in Arizona before exemptions and rebates is approximately 1.3% of market value or 13% of assessed value. So, if a home is assessed with a Full Cash Value of $350,000, and the property tax rate was exactly at the average 1.3%, then annual real estate tax would be $4,550.
Here's the math:
$350,000 x .1 [10%] = $35,000 x .13 [13%] = $4,550
or
$350,000 x .013 [1.3%] = $4,550
I have seen some Oro Valley taxes set at a little under the average of 1.3%. Again, if you have one or more specific addresses, I can obtain the specific taxes for you. Please let me know if I can assist you further. - Thu May 28 2009, 09:43