Las Vegas, Utah Property Taxes
The median property tax rate in Las Vegas, UT is 0.75%, which is lower than the national median of 0.99% but higher than the Utah state median of 0.55%. With the median home value in Las Vegas, the typical annual property tax bill reaches $180, significantly below the national median of $2,690. Property taxes in Las Vegas 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 Las Vegas'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 Las Vegas 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
Las Vegas, 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 Las Vegas Property Tax Bill Calculator assists any homeowner, real estate investor, or potential owner in estimating their annual property taxes in Las Vegas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Las Vegas 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 Las Vegas, Utah
Property taxes in Las Vegas, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Las Vegas is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Las Vegas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Las Vegas 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 Las Vegas's effective property tax rate to other counties in Utah and the national median. Understanding how these cities compare with Las Vegas 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 Las Vegas Tax Rate
0.75%
Average Iron County Tax Rate
0.74%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Las Vegas, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Las Vegas, Utah
In Las Vegas, 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 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 Las Vegas, 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 Las Vegas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip codes with the highest and lowest tax bills are both at $180, providing a uniform benchmark for property owners.
Average Las Vegas Assessed Value
$23,976
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 Las Vegas, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Las Vegas, Utah
In Las Vegas, Iron 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 property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $23,976, the tax bill for many residents falls around $180, placing it within the 25th, 75th, and even the 90th percentiles. This relatively low tax bill can be attributed to a combination of the assessed value and the local tax rate, which is notably lower than the national median property tax rate of 0.99%. Homeowners benefit from understanding these calculations as it allows them to anticipate their annual tax obligations and budget accordingly. This also influences decisions related to property improvements and real estate investments, as any increase in property value will directly impact future tax bills.
Average Las Vegas Tax Bill
$180
Average Iron County Tax Bill
$974
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Las Vegas, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell