Francis, Utah Property Taxes
The median property tax rate in Francis, UT is 0.34%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Francis at $571,220, the typical annual property tax bill reaches $2,200, which is below the national median of $2,690. Property taxes in Francis 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 Francis'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 Francis 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
Francis, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$1,942
Ownwell’s FRANCIS Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in FRANCIS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FRANCIS 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 Francis, Utah
Property taxes in Francis, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Francis is 0.34%, significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Francis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Francis 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 Francis's effective property tax rate to other counties in Utah and the national median. For comparison, the highest median property tax rate in Utah is found in a different region, while another area boasts the lowest median tax rate. Understanding how these cities compare with Francis provides valuable insights into the varying tax landscape across Summit County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Francis Tax Rate
0.34%
Average Summit County Tax Rate
0.52%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Francis, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84036 | 0.34% | 0.34% | 0.34% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Francis, Utah
In Francis, 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 Summit 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 Francis, 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 Francis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Francis are both $2200, found in the 84036 zip code.
Average Francis Assessed Value
$571,220
Average Summit County Assessed Value
$1,192,250
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Francis, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84036 | $512,946 | $546,365 | $571,220 | $588,012 | $780,430 |
Source: Ownwell
Property Tax Bills Across Francis, Utah
In Francis, located in Summit County, Utah, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $571,220, homeowners can expect varying tax bills. Factors influencing the tax bill include the property's assessed value and the local tax rate, which can fluctuate based on budgetary needs of the county and local taxing entities such as school districts and municipal services. Homeowners in Francis experience a range of tax bills. At the 25th percentile, the tax bill is approximately $1,926, while at the 75th percentile, it rises to about $3,516. The highest median tax bill recorded in the region is $2,200, with the same value also being the lowest, indicating a relatively uniform tax rate across different properties. These property taxes significantly impact homeowners by contributing to the funding of essential community services, while also affecting overall housing affordability.
Average Francis Tax Bill
$2,200
Average Summit County Tax Bill
$4,794
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Francis, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84036 | $1,837 | $1,926 | $2,200 | $3,516 | $3,597 |
Source: Ownwell