Maricopa property tax (Phoenix: real estate, property taxes, appraise)

[slapmijits]

I am buying a house in Maricopa and was just told my property tax will be $190 a month. What?! The house is selling for $117K! Why are the taxes so high? Has anyone lived in Maricopa for any length of time? Have the taxes always been this high? What are they paying for?

[MotleyCrew]

Might be that the tax is based on older values. I think that they can tax you on whatever they deem as "fair market value." You might want to go in and talk to them.

[Master Shake]

Maricopa County? Or Maricopa City (in Pinal County)?

In either case, I am fairly sure that property taxes are roughly 0.8 - 1.2 % of the appraised value (as appraised by the County, not a bank or lending company). For a house appraised at $117k, the taxes should be less than $1400 per year. However, if the County still has the house appraised at a 2005 year level (such as $250k), it could be much higher. It is very possible that your real estate agent pulled up the older numbers.

Also, is the $190 per month quote related to an escrow account? and if so, does it also include property insurance?

[sablebaby]

Pinal taxes are higher (can be much higher) than Maricopa County.

[Master Shake]

Originally Posted by sablebaby

Pinal taxes are higher (can be much higher) than Maricopa County.

Yup, Pinal County has the highest rate of all counties in Arizona.

[Valley Native]

Originally Posted by slapmijits

The house is selling for $117K!

First of all, the sale value sounds dirt cheap to me. Why is it selling for so low? Even with the down turn in the housing market, $117,000 is still awfully cheap these days. Is the house older and needing repairs?

Originally Posted by slapmijits

Why are the taxes so high? Has anyone lived in Maricopa for any length of time? Have the taxes always been this high? What are they paying for?

Pinal County isn't cheap as far as property taxes. Surprisingly, Maricopa County is less expensive on the property tax rates. But depending on where you live, approximately 70% of your property tax bill is being wasted on public schools that are a proven failure. So feel proud that your money is being sucked from your wallet and then sucked into a bureaucratic black hole.

[azjack]

"First of all, the sale value sounds dirt cheap to me. Why is it selling for so low? Even with the down turn in the housing market, $117,000 is still awfully cheap these days. Is the house older and needing repairs?"

Many new houses and almost-new bank-owned houses are priced in that range in Maricopa. Less than $100K as well.

[Valley Native]

Originally Posted by azjack

Many new houses and almost-new bank-owned houses are priced in that range in Maricopa. Less than $100K as well.

Yikes! No wonder the "city" of Maricopa is growing by leaps & bounds. All those new arrivals looking for a cheap place to live. Actually, it's not all that chep when they factor in the long driving times & all that gas being consumed on their daily commutes into Phoenix. Add to that the higher property taxes, the HOA fees, etc., and the savings really isn't all that great.

Makes me a little concerned that Maricopa's cheap housing prices could make it a future Maryvale, ridden with gangs, crime, drugs, and graffiti. I hope that won't be the case ... but lower home prices generally bring in the less desirables.

[Master Shake]

Originally Posted by azjack

Many new houses and almost-new bank-owned houses are priced in that range in Maricopa. Less than $100K as well.

Yup. There are even a few REO 1000 sq 2b/2b houses listed at $89k! Cash is king right now.