Arizona (AZ) property tax rate: 0.62% | Median home: $415,000 | Median annual tax: $2,573
Arizona is one of the fastest-growing Sun Belt states. The average effective property tax rate in Arizona is 0.62%, which is below the national average of 1.1%.
On the median Arizona home valued at $415,000, annual property taxes come to approximately $2,573 or $214/month. This is a significant part of your total housing cost and should be factored into any home purchase budget.
Pro tip: Arizona property taxes are capped — assessed value cannot rise more than 5% per year.
Combined with Arizona's state income tax rate of 2.5%, homeowners should consider the total tax picture. Property taxes in Arizona are manageable and in line with regional averages.
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Arizona has an average effective property tax rate of 0.62%. On the median home value of $415,000, that equals approximately $2,573 per year or $214 per month.
Property taxes in Arizona are calculated by multiplying your home assessed value by the local tax rate. The assessed value may differ from market value depending on your county assessment ratio. Exemptions like homestead exemptions can reduce your taxable value.
Arizona property taxes are capped — assessed value cannot rise more than 5% per year.
Arizona property taxes are well below the national average of 1.1%. This is a genuine financial advantage for homeowners in Arizona.
Property tax due dates vary by county in Arizona. Most counties offer semi-annual payments. Check with your county tax assessor office for specific due dates. Late payments typically incur penalties of 1-2% per month.