Enterprise, Utah Property Taxes
The median property tax rate in Enterprise, UT is 0.42%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Enterprise, the typical annual property tax bill reaches $370, well below the national median of $2,690. Property taxes in Enterprise 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 Enterprise'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 Enterprise 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
Enterprise, Utah Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Enterprise Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Enterprise with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Enterprise 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 Enterprise, Utah
Property taxes in Enterprise, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Enterprise is 0.42%, significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Enterprise set these rates annually, and they can vary significantly across different neighborhoods. Each year, Enterprise 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 Enterprise's effective property tax rate to other areas in Utah and the national median. For comparison, the 84725 zip code has the same median property tax rate of 0.42%. Understanding how these cities compare with Enterprise provides valuable insights into the varying tax landscape across Iron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Enterprise Tax Rate
0.42%
Average Iron County Tax Rate
0.74%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Enterprise, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84725 | 0.41% | 0.41% | 0.42% | 0.42% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Enterprise, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Enterprise, 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 Iron 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 Enterprise, 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 example, in the 84725 zip code, the median tax bill is $370. 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 Enterprise helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Enterprise Assessed Value
$88,770
Average Iron County Assessed Value
$176,312
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Enterprise, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84725 | $84,190 | $85,908 | $88,770 | $282,742 | $399,126 |
Source: Ownwell
Property Tax Bills Across Enterprise, Utah
In Enterprise, located in Iron County, UT, property tax bills are calculated based on the assessed value of the property and the applicable tax rate. The assessed value is determined by the county assessor and is a percentage of the market value of the property. Several factors influence this assessed value, including the property's location, size, and condition. For homeowners in Enterprise, the property tax rate is applied to the assessed value to determine the annual tax bill. The median home price in Enterprise is $88,770, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $356, while the 75th percentile tax bill reaches $1,180. At the 90th percentile, homeowners might see tax bills as high as $1,666. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life in the community. Understanding how these taxes are calculated can help homeowners budget accordingly and anticipate their annual financial obligations.
Average Enterprise Tax Bill
$370
Average Iron County Tax Bill
$974
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Enterprise, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84725 | $348 | $356 | $370 | $1,180 | $1,666 |
Source: Ownwell