Collinston, Utah Property Taxes
The median property tax rate in Collinston, Utah is 0.43%, considerably lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Collinston at $577,527, the typical annual property tax bill reaches $2,328, which is below the national median of $2,690. Property taxes in Collinston are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Collinston's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Collinston or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Collinston, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$2,483
Ownwell’s Collinston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Collinston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Collinston to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Collinston, Utah
Property taxes in Collinston, Utah, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Collinston is 0.43%, which is notably lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Collinston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Collinston estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Collinston's effective property tax rate to other counties in Utah and the national median. For comparison, the 84306 zip code has the highest median property tax rate of 0.43%, while the same zip code also has the lowest median tax rate of 0.43%. Understanding how these cities compare with Collinston provides valuable insights into the varying tax landscape across Box Elder County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Collinston Tax Rate
0.43%
Average Box Elder County Tax Rate
0.49%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Collinston, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84306 | 0.33% | 0.40% | 0.43% | 0.44% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Collinston, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Collinston, Utah. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Box Elder County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Collinston, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Collinston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 84306, with a value of $2,328.
Average Collinston Assessed Value
$577,527
Average Box Elder County Assessed Value
$420,318
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Collinston, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84306 | $358,668 | $453,863 | $577,527 | $701,022 | $878,941 |
Source: Ownwell
Property Tax Bills Across Collinston, Utah
In Collinston, Box Elder County, UT, property taxes are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine your annual tax bill. The median home price in Collinston is $577,527, and property tax bills can vary significantly. For instance, homeowners in the 25th percentile pay around $1,816, while those in the 75th percentile face bills of about $3,001. At the 90th percentile, property taxes can reach up to $3,484. Factors influencing your tax bill include the market value of your property, any applicable exemptions, and the specific tax rate set by local authorities. These property taxes fund essential public services such as schools, infrastructure, and emergency services, impacting the overall quality of life in the community. Compared to the national median property tax rate of 0.99%, Collinston's property taxes offer a vital contribution to maintaining and improving local amenities.
Average Collinston Tax Bill
$2,328
Average Box Elder County Tax Bill
$1,988
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Collinston, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84306 | $1,398 | $1,816 | $2,328 | $3,001 | $3,484 |
Source: Ownwell