Bountiful, Utah Property Taxes
The median property tax rate in Bountiful, UT is 0.58%, slightly higher than the Utah state median of 0.55% but still below the national median of 0.99%. With a median home value of $490,000 in Bountiful, the typical annual property tax bill reaches $2,857, surpassing the national median of $2,690. Property taxes in Bountiful are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bountiful'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 Bountiful 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
Bountiful, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$2,842
Ownwell’s Bountiful Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bountiful with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bountiful 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 Bountiful, Utah
Property taxes in Bountiful, Utah, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Bountiful is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Bountiful set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bountiful 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 Bountiful's effective property tax rate to other counties in Utah and the national median. For comparison, the 84010 zip code has the highest median property tax rate of 0.58%, while the 84010 zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Bountiful provides valuable insights into the varying tax landscape across Davis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bountiful Tax Rate
0.58%
Average Davis County Tax Rate
0.56%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bountiful, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84010 | 0.55% | 0.57% | 0.58% | 0.60% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Bountiful, Utah
In Bountiful, Utah, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Davis County Assessor 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 Bountiful, 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 Bountiful helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $2,857 in the 84010 zip code.
Average Bountiful Assessed Value
$490,000
Average Davis County Assessed Value
$472,000
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bountiful, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84010 | $352,000 | $420,000 | $490,000 | $630,000 | $826,000 |
Source: Ownwell
Property Tax Bills Across Bountiful, Utah
In Bountiful, located in Davis County, UT, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value. Homeowners in Bountiful can expect property tax bills to vary significantly depending on their property's assessed value. For instance, the 25th percentile tax bill is around $2,409, while the 75th percentile tax bill is approximately $3,633. At the higher end, the 90th percentile tax bill reaches up to $4,737. These tax bills are influenced by several factors, including the home's location, size, and condition, as well as local tax rates and levies set by various taxing authorities. The median home price in Bountiful is $490,000, which means homeowners typically face a tax rate slightly below the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Bountiful Tax Bill
$2,857
Average Davis County Tax Bill
$2,654
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Bountiful, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84010 | $1,556 | $2,409 | $2,857 | $3,633 | $4,737 |
Source: Ownwell