Paragonah, Utah Property Taxes
The median property tax rate in Paragonah, UT is 0.36%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $264,324 in Paragonah, the typical annual property tax bill is around $1,059, well below the national median of $2,690. Property taxes in Paragonah are calculated based on the assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Paragonah's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Paragonah or another part of Iron County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paragonah, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$952
Ownwell’s Paragonah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paragonah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paragonah 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 Paragonah, Utah
Property taxes in Paragonah, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paragonah is 0.36%, which is significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Paragonah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paragonah 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 Paragonah's effective property tax rate to other counties in Utah and the national median. Understanding how these cities compare with Paragonah 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 Paragonah Tax Rate
0.36%
Average Iron County Tax Rate
0.74%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paragonah, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84760 | 0.36% | 0.36% | 0.36% | 0.66% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Paragonah, Utah
In Paragonah, 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 Paragonah, 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 Paragonah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Paragonah, the median home price stands at $264,324. The median tax bill in the 25th percentile is $514, while in the 75th percentile, it reaches $1,641. The highest and lowest median tax bill is $1,059 in the 84760 zip code.
Average Paragonah Assessed Value
$264,324
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 Paragonah, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84760 | $47,040 | $92,828 | $264,324 | $414,955 | $579,219 |
Source: Ownwell
Property Tax Bills Across Paragonah, Utah
In Paragonah, located in Iron County, UT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $264,324. Homeowners' tax bills can vary significantly, influenced by factors such as property size, location, and improvements. The tax bill at the 25th percentile is $514, indicating lower-valued properties, while at the 75th percentile, it rises to $1,641, reflecting higher-valued homes. The 90th percentile tax bill reaches $2,286, showing the impact of premium properties. Comparatively, the national median property tax rate is 0.99%, and Paragonah's property taxes align closely with this figure. All properties within the zip code 84760 have a median tax bill of $1,059, showing consistency in tax assessments within the area. Homeowners in Paragonah should be aware of these variables as they can significantly influence annual tax obligations, impacting overall housing affordability.
Average Paragonah Tax Bill
$1,059
Average Iron County Tax Bill
$974
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Paragonah, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84760 | $353 | $514 | $1,059 | $1,641 | $2,286 |
Source: Ownwell