Did you know Arizona has some of the lowest property taxes in the country?
With the cost of so many things rising, it’s reassuring to know that owning a home in Arizona can be less expensive than in many other states. According to a 2024 Tax Foundation report, Arizona ranks among the five states with the lowest property taxes.
Property taxes in Arizona are assessed in arrears, meaning they’re based on past property values. They’re assessed every two years for the previous year. Clear as mud, right? The calculation can be complicated, but one thing is clear: Arizona’s property tax rate is the fourth-lowest in the nation.
Lower property taxes can make homeownership more affordable. If you’re comparing a primary or second home, be sure to consider how property taxes differ from state to state.
Lower property taxes also equate to lower mortgages! In this expensive housing market, at least property taxes can help keep payments manageable.
