Woods Cross, Utah Property Taxes
The median property tax rate in Woods Cross, UT is 0.61%, slightly higher than the state median of 0.55% but below the national median of 0.99%. With a median home value of $440,000 in Woods Cross, the typical annual property tax bill amounts to $2,683, just under the national median of $2,690. Property taxes in Woods Cross are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Woods Cross'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 Woods Cross 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
Woods Cross, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$2,684
Ownwell’s Woods Cross Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woods Cross with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woods Cross 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 Woods Cross, Utah
Property taxes in Woods Cross, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woods Cross is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Woods Cross set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woods Cross 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 Woods Cross's effective property tax rate to other areas in Davis County and the national median. For comparison, the 84010 zip code has the highest median property tax rate of 0.61%, while the 84087 zip code has the lowest median tax rate of 0.61%. Understanding how these cities compare with Woods Cross 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 Woods Cross Tax Rate
0.61%
Average Davis County Tax Rate
0.56%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woods Cross, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84010 | 0.59% | 0.61% | 0.61% | 0.61% | 0.62% |
| 84087 | 0.57% | 0.60% | 0.61% | 0.62% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Woods Cross, Utah
In Woods Cross, 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 Woods Cross, 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. For instance, the median home price in the area is $440,000, with tax bills ranging from $2,417 at the 25th percentile to $3,776 at the 90th percentile. The highest median tax bill in the region is $2,685 in the 84087 zip code, while the lowest is $2,266 in the 84010 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Woods Cross Assessed Value
$440,000
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 Woods Cross, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84010 | $337,600 | $343,000 | $373,000 | $430,000 | $494,600 |
| 84087 | $369,000 | $405,000 | $441,000 | $512,250 | $623,000 |
Source: Ownwell
Property Tax Bills Across Woods Cross, Utah
Property tax bills in Woods Cross, located in Davis County, UT, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value, determined by the county assessor’s office. The local tax rate, applied to this assessed value, ultimately determines the tax bill. Various factors influence the assessed value, including property size, location, and any improvements made. Homeowners in Woods Cross experience a range of property tax bills. For instance, the median home price is $440,000, with tax bills at the 25th percentile around $2,417 and at the 75th percentile reaching $3,133. The highest median tax bill within the area is $2,685 in the 84087 zip code, while the lowest is $2,266 in the 84010 zip code. Compared to the national median property tax rate of 0.99%, Woods Cross homeowners face a relatively moderate tax burden. Understanding these factors helps homeowners anticipate their annual property tax responsibilities and plan accordingly.
Average Woods Cross Tax Bill
$2,683
Average Davis County Tax Bill
$2,654
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Woods Cross, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84010 | $2,062 | $2,116 | $2,266 | $2,618 | $2,955 |
| 84087 | $1,999 | $2,422 | $2,685 | $3,135 | $3,780 |
Source: Ownwell