Phoenix property taxes among lowest in country
According to a report released by TurboTax, Phoenix and Mesa, Arizona, have some of the lowest property taxes in the country. Based off of information from the U.S. Census Bureau, Phoenix is rated fourth in the nation and Mesa is second. Real estate in Phoenix has recently posted the largest gains in the nation.
For the first time since 2007, real estate prices are generally on the rise across the country, and Phoenix prices have gone up approximately 12 percent. Property taxes on owner-occupied housing of a median home value in 2010 are 0.85 percent. The highest property taxes belong to New Jersey at 2.01 percent and the lowest are in Hawaii at 0.27 percent.
The median annual taxes paid for a home in Arizona in 2009 were $1,356, compared to the highest in New Jersey at $6,579. In the Phoenix-Mesa-Glendale metro area, the median home price is $144,000, which is 52.7 percent lower than the peak in the second quarter of 2006. Property taxes as a percentage of state and local tax revenue in Arizona in the same year was 34.2 percent.