Home Finance Thinking of Moving to Arizona? Everything You Need to Know About Arizona Property Taxes

Thinking of Moving to Arizona? Everything You Need to Know About Arizona Property Taxes

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Thinking of Moving to Arizona? Everything You Need to Know About Arizona Property Taxes

Your moving job isn’t done when you buy and move into a house. You’ll also be responsible for things like personal property taxes, which will vary based on where you live.

If you live in the state of Arizona, you need to be aware of how property taxes are handled. Each state has its own way of levying taxes, and some states, like Nevada, don’t even charge personal property taxes.

For those who live in the area that want to learn more about Arizona property taxes, be sure that you consider the information below.

1. Understand the Way Your Arizona Property Taxes Are Calculated

You’ll need to understand personal property taxes and how they work first. Each state has its own form of calculation.

In the state of Arizona, you will pay personal property tax based on assessed home value rather than market value. This tax value refers to that of the actual property, rather than the market value, which fluctuates based on a series of factors.

This is advantageous to you because the assessed rate will generally end up being less. As a result, you lower your tax bill and keep more money in your pocket.

The more you know about your property taxes, the more aware you’ll be as a homeowner.

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2. Learn About the Taxes in Your Particular City and Neighborhood

When you are in the market for a new home, it’s important to scope out neighborhoods. The neighborhood you live in can affect how much tax you can expect to pay.

If you live in affluent neighborhoods like Desert View or North Gateway, you can expect to pay higher taxes.

Each year, you also need to know what municipality you are paying your taxes to. In some cases, you may be paying to your city, while in others, you may owe the county as a whole.

3. Touch Base with Your Municipality and Know When Your Taxes Are Calculated

As soon as you get moved in, you need to familiarize yourself with the assessor’s office. Find out who you’ll be paying taxes to and when taxes are due.

Never drag your feet with deadlines. If you do miss a deadline, they’ll tack on extra fees that can make your tax bill outrageous.

4. Get the Help of Some Real Estate Professionals

It always makes sense to have real estate professionals handy for situations like this. When you have the help of a good real estate lawyer, they can dispute any discrepancies in your tax bill to make sure that you’re being charged fairly.

They can also work with real estate agents and independent appraisers to be sure the municipality’s assessment was accurate.

Assess Your Tax Situation

Simply put, paying taxes are a fact of life — especially if you are a property owner. If you’re moving to the state and want to learn more about Arizona property taxes, these tips will be useful to you.

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We’ve got you covered anytime you’re trying to learn more.

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