What are Arizona real estate taxes?

@milan.glover 

Arizona real estate taxes refer to property taxes levied on real property in the state of Arizona. These taxes are imposed by local governments, including counties, school districts, and other taxing authorities, to generate revenue for public services and infrastructure.

The calculation of real estate taxes in Arizona is based on the assessed value of the property, which is determined by the county assessor. The assessed value is multiplied by the tax rate set by each taxing authority to determine the amount of tax owed.

The tax rates and assessment methods can vary depending on the location within the state. However, Arizona has certain limits on property tax increases. Proposition 117, enacted by voters in 2012, limits the annual increase in assessed value of a property to 5% or the rate of inflation, whichever is lower.

It is recommended to look up the local property tax rates and assessment methods in the specific county or city where the property is located for more accurate and up-to-date information.

@milan.glover 

Please note that the information provided is accurate to the best of my knowledge, but it is always a good idea to consult with a professional tax advisor or local government office for the most current and accurate information on Arizona real estate taxes.