Meadow, Utah Property Taxes
The median property tax rate in Meadow, Utah is 0.54%, slightly below both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Meadow at $263,772, the typical annual property tax bill reaches $1,558, significantly lower than the national median of $2,690. Property taxes in Meadow 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 Meadow'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 Meadow 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
Meadow, 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 Meadow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meadow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meadow 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 Meadow, Utah
Property taxes in Meadow, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Meadow is 0.54%, lower than the Utah state median of 0.58% and the U.S. national median of 0.99%. Local government entities within Meadow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meadow 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 Meadow's effective property tax rate to other counties in Utah and the national median. For comparison, the 84644 zip code has the highest median property tax rate of 0.54%, while the 84644 zip code has the lowest median tax rate of 0.54%. Understanding how these cities compare with Meadow 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 Meadow Tax Rate
0.54%
Average Millard County Tax Rate
0.56%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meadow, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84644 | 0.48% | 0.54% | 0.54% | 0.56% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Meadow, Utah
In Meadow, 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 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 Meadow, 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. For instance, the median home price in Meadow is $263,772, with tax bills ranging from $1,065 at the 25th percentile to $3,157 at the 90th percentile. The highest and lowest median tax bills are both $1,558 in the 84644 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Meadow Assessed Value
$263,772
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 Meadow, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84644 | $173,009 | $200,652 | $263,772 | $343,143 | $509,385 |
Source: Ownwell
Property Tax Bills Across Meadow, Utah
In Meadow, Utah, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Meadow, located in Millard County, has a median home price of $263,772. The local tax rate is applied to this assessed value to calculate the annual property tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, the 25th percentile of tax bills in Meadow is around $1,065, while the 75th percentile reaches approximately $2,100. The tax bill can go as high as $3,157 for the 90th percentile of homeowners. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners in Meadow should be aware of how these taxes are calculated to better manage their annual expenses and take advantage of any potential exemptions or appeals.
Average Meadow Tax Bill
$1,558
Average Millard County Tax Bill
$1,608
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Meadow, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84644 | $778 | $1,065 | $1,558 | $2,100 | $3,157 |
Source: Ownwell