Morgan, Utah Property Taxes
The median property tax rate in Morgan, UT is 0.63%, higher than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Morgan at $638,517, the typical annual property tax bill reaches $4,015, exceeding the national median of $2,690. Property taxes in Morgan 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 Morgan'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 Morgan 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
Morgan, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$4,023
Ownwell’s Morgan Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Morgan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morgan to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. 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 Morgan, Utah
Property taxes in Morgan, Utah, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morgan is 0.63%, which is lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Morgan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morgan 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 Morgan's effective property tax rate to other counties in Utah and the national median. For comparison, the zip code 84050 has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Morgan provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morgan Tax Rate
0.63%
Average Morgan County Tax Rate
0.63%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morgan, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84050 | 0.59% | 0.62% | 0.63% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Morgan, Utah
In Morgan, 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 county assessment office 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 Morgan, 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 Morgan 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 bill is 84050, with a median tax bill of $4,015.
Average Morgan Assessed Value
$638,517
Average Morgan County Assessed Value
$638,258
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morgan, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84050 | $372,294 | $471,162 | $638,517 | $927,421 | $1,241,265 |
Source: Ownwell
Property Tax Bills Across Morgan, Utah
In Morgan, 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 then multiplied by the local property tax rate to determine the tax bill. For Morgan, the median home price is $638,517, which serves as a significant factor in calculating the tax burden. Homeowners can expect tax bills to vary significantly, with the 25th percentile at $2,990 and the 75th percentile at $5,634. The highest tax bills in the area can reach up to the 90th percentile, or $7,553. Factors influencing the tax bill include the home's market value, any applicable exemptions, and the specific tax rate set by local authorities. Compared to the national median property tax rate of 0.99%, Morgan's property tax rates can result in substantial yearly costs for homeowners. These taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the community's quality of life.
Average Morgan Tax Bill
$4,015
Average Morgan County Tax Bill
$4,004
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Morgan, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84050 | $2,445 | $2,990 | $4,015 | $5,634 | $7,553 |
Source: Ownwell