How will my property taxes change after I buy?
In Arizona, buying a home does not by itself reset its taxable value to your purchase price. Property taxes are based on the limited property value set by the County Assessor, and state law generally caps the yearly increase in that value at 5 percent. Your bill can still change after you buy. The legal classification may change, for example if the home was a rental and becomes your primary residence, tax rates set by the county, city, school districts and other authorities change each year, and a newly built home may not be fully assessed in its first year. Any Community Facilities District or other special assessments stay with the property.
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More on title, insurance and taxes
- How much is homeowners insurance in Phoenix and what does it cover?
- How do property taxes work in Arizona and how are they calculated?
- Do I need flood insurance in Phoenix?
- What is title insurance and do I need it?
- What is the difference between a home warranty and homeowners insurance?
- Do easements, solar leases or liens on title affect me?
Meet Jon Hegreness
Jon Hegreness
REALTOR / Associate Broker · Howe Realty
AZ License BR540940000
Full-time Phoenix North Valley REALTOR and Associate Broker with 24 years in Arizona residential real estate. A negotiator and problem solver who works the way you would want a friend in the business to work: direct, on your side, and steady through the parts that get complicated.