Garrison, Utah Property Taxes
The median property tax rate in Garrison, Utah is 0.52%, which is notably lower than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $342,257 in Garrison, the typical annual property tax bill amounts to $1,792, significantly below the national median of $2,690. Property taxes in Garrison 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 Garrison'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 Garrison or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Garrison, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$1,780
Ownwell’s Garrison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garrison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garrison 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 Garrison, Utah
Property taxes in Garrison, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garrison is 0.52%, which is significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Garrison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garrison 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 Garrison's effective property tax rate to other counties in Utah and the national median. For comparison, the 84728 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Garrison provides valuable insights into the varying tax landscape across Millard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garrison Tax Rate
0.52%
Average Millard County Tax Rate
0.56%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garrison, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84728 | 0.52% | 0.52% | 0.52% | 0.52% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Garrison, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Garrison, 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 Millard County Appraisal District 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 Garrison, 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 Garrison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 84728, with a median tax bill of $1792.
Average Garrison Assessed Value
$342,257
Average Millard County Assessed Value
$272,297
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garrison, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84728 | $342,257 | $342,257 | $342,257 | $342,257 | $342,257 |
Source: Ownwell
Property Tax Bills Across Garrison, Utah
In Garrison, located in Millard County, Utah, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and represents a percentage of the market value of the property. For homeowners in Garrison, the median home price stands at $342,257. The property tax rate in this region is applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the market value of the home, any applicable exemptions, and the local tax rate. In Garrison, the median property tax bill is $1,792, which is consistent across various percentiles, indicating a stable tax environment. This tax bill is relatively lower compared to the national median property tax rate of 0.99%, making it an attractive location for homeowners seeking affordability. Understanding how property tax bills are calculated helps homeowners plan their finances and anticipate annual expenses, ensuring they are well-prepared for their tax obligations.
Average Garrison Tax Bill
$1,792
Average Millard County Tax Bill
$1,608
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Garrison, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84728 | $1,792 | $1,792 | $1,792 | $1,792 | $1,792 |
Source: Ownwell