I happened upon a post on a social media website where people were grumbling about the most recent tax bills received. It seems that we had an increase. I can’t complain yet, because I haven’t seen my latest tax bill but I’m reasonably sure that whatever it is will be MUCH less than what I was paying in Aurora Illinois DuPage county.
I am by no means dismissing the annual bills we receive from our respective county assessors, just looking at the glass half full -😊
Taxes are a big consideration when you’re considering a move to a new state. There are some places such as Florida and Texas that have no state taxes. That may be attractive, but you want to be able to consider a lot of factors and tax is one of them.
My friend Google gives the following information on Sales and Real Estate Taxes:
Real Estate Taxes in Arizona – the effective property tax rate in Arizona is 0.6696. That means that if your home is assessed at $100,000, your property taxes would be $600. The national average would put the same house’s taxes at $1,150. Homeowners on average pay a tax rate of 1.3% of the market value of their home (before exemptions and rebates.)
Arizona counties calculate a full cash value of every house in the county, often based on the sales prices of nearby, comparable homes. Taxes are not based on the full cash value, however, but something called the Limited Property Value (LPV), which is based on cash value.
Sales Tax in Arizona – the sales tax rate is 5.6%, but depending on the municipality, your total paid may rise to as much as 11.1% like in Tucson. In most well-known Arizona cities, total sales tax rates run from 8% to 10%. The average state sales tax is just 5.1%, so you’ll likely end up paying more in taxes on your purchases in Arizona than you would in many other states.
Take a look at the cities below for the latest tax rates. These rates include a combination of State, County and City Taxes:
Buckeye – 9.3%
Goodyear – 8.8%
Scottsdale – 8.05%
Tempe – 8.1%
Avondale – 8.8%
Mesa – 8.3%
Surprise – 8.5%
Peoria – 8.1%
Interesting to note that Scottsdale is the lowest on the list which reinforces the fact that you need to consider all factors (i.e., Average home cost) keep reading!
Same cities average home price in June 2023 according to Redfin:
Buckeye – $395,000
Goodyear – $499,000
Scottsdale – $822,500
Tempe – $475,000
Avondale – $455,000
Mesa – $465,000
Surprise – $430,000
Peoria – $515,000
Next week we’ll talk about the real estate market in Phoenix. Lots of info to gather and always remember – Google is your friend!
#Transplanted