Arizona Property Tax Calculator

How is the difference between assessed value and market value?

Market value Refers to the fees the buyer may have to pay for your home today. It is affected by the location, condition and comparable sales in the area – this is what you negotiate when buying and selling a home.

Assessing value For tax purposes only and calculate in Arizona using the above two steps – LPV multiplied by 10% (residential assessment rate).

For example:

• Market value (or all-cash value): $400,000
• LPV (upper limit): $350,000
• Assessed Value = $35,000 (10% of LPV)
  Tax statement = Assessed value × Local interest rate

The system helps protect Arizona homeowners from dramatic growth in year-on-year property taxes, even in the rising housing market.

When should Arizona property tax expire?

Property taxes should usually expire on October 1st. However, Arizona law allows property tax payments in two periods of most homes.

• Taxation first half: Expired on October 1st, after November 1st
• The second half of taxation: Expired on March 1 of the following year, after May 1

If any crime date falls on Saturday, Sunday or legal holiday, the deadline is extended to 5 p.m. on the next working day.

If your mortgage includes an escrow account, your lender will usually handle the taxes on your behalf. Otherwise, you must pay directly to your county finance office.

What does Arizona property tax pay?

Arizona property tax helps fund various basic public services at the local level. These include:

• K-12 Public Education (including school district bonds and coverage)
• Police and fire protection
• Street and road maintenance
• County and municipal actions
• Library Systems and Community College
• Flood control and special areas

Each local tax authority (such as your county, city, school district or fire district) sets its own tax rate or taxation, which together determines your total property tax bill.

How much does it cost to buy a home in Arizona?

How many houses can you afford?

Affordability depends on the income, debt, credit and interest rate environment. Based on Arizona’s median household income of approximately $75,000, many buyers can use the standard affordability guide to qualify for homes in the range of $225,000 to $275,000. Buying a home with a median $450,000 in Grand Canyon State usually requires a dual income family.

Use Homelight’s Home Affordability Calculator to estimate the burden you can comfortably be based on your financial situation and today’s interest rates.

What down payment do you need?

Arizona’s down payments range from 3% (FHA or first-time buyer loan) to 20% (for regular loans without mortgage insurance). In today’s market, many Arizona buyers are down 10%–15%, with the current average of 9.31%.

For a $450,000 home, this means:

• 3% drop = $13,500
• 10% drop = $45,000
• 15% drop = $67,500
• 20% drop = $90,000

Try Homelight’s down payment calculator to explore how different down payment amounts affect your loan and monthly fees.

What is the closing cost in Arizona?

Buyers in Arizona usually pay 2%–5% of the home purchase price at closing costs, which may include:

• Lender’s fee
• Title Insurance
• Assessment fee
• Prepaid taxes and insurance
• Hosting and record fees

For a $450,000 home, this means an estimated closing cost of $9,000 to $22,500. Depending on your purchase price, please use Homelight’s turn off fee calculator for a custom estimate.

How to find a trusted Arizona real estate agent

Buying a home in Arizona is a big decision, and having a top agent around you will make it easier for you and can help you save money in the long run. Local experts can help you understand tax zones, discover the value of high-growth zones and conduct strategic negotiations.

Homelight’s free agent matching tool analyzes over 27 million deals and thousands of reviews to connect you with the best agents in your selected purchasing area based on actual performance rather than paid locations.

Tell us your goals and match the Arizona agents who understand the community you are considering can guide you from searching to closing.