Goodyear property taxes remain the same, residents are paying more

The city of Goodyear formally approved its budget at a regular council meeting Monday, essentially leaving the tax rate the same, but inflating home values have heightened the total payment residents pay.

According to data compiled from MLS and/or public records, the median home price in Goodyear has surged by 52.6% from March 2020 to 2024, from $305,500 to $466,490. This increase in home values is a key factor that led to higher tax payments for residents.

Ryan Bittle, Goodyear’s finance manager explained why in the council meeting Monday night.

“So, speaking of rates for 2025, our combined property tax rate, which is the portion of the property taxes that does fall under Council's authority, is staying the same at $1.74 per every $100 of assessed valuation,” Bittle said. “This combined rate of $1.74 has been unchanged since 2018, so why is my property tax bill going up if the rate isn't changing? This is probably the next logical question that people are asking, and that's simply because the value of your property is worth more this year than it was last year.”

Assessed value differs from listing prices or market values of homes seen on Redfin or Zillow,

The assessed value is the value assigned to a home by the tax assessor's office to calculate property taxes. It is, on average, a percentage of the property's market value.

According to Bittle, a Goodyear home with a median assessed value of $227,082 will produce $393.99 a year for the city. The rest will go to other outlets.

“So based on that, the average Goodyear resident will only be paying about $400 to the city, the remainder of your property tax bill, which is much more, goes to other sources, primarily education,” he said.

Education accounts for around 60% of resident bills, the county for around 10%, and special districts for around 16%. The city of Goodyear accounts for around 14% of your total bill.