Sandy, Utah Property Taxes
The median property tax rate in Sandy, UT is 0.52%, which is lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Sandy at $546,529, the typical annual property tax bill is $2,853, slightly higher than the national median of $2,690. Property taxes in Sandy 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 Sandy'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 Sandy 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
Sandy, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$2,842
Ownwell’s Sandy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sandy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sandy 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 Sandy, Utah
Property taxes in Sandy, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sandy is 0.52%, which is lower than the U.S. national median of 0.99%. Local government entities within Sandy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sandy 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 Sandy's effective property tax rate to other counties in Utah and the national median. For comparison, the 84070 zip code has the highest median property tax rate of 0.52%, while the same 84070 zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Sandy 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 Sandy Tax Rate
0.52%
Average Summit County Tax Rate
0.52%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sandy, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84070 | 0.52% | 0.52% | 0.52% | 0.52% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Sandy, Utah
In Sandy, 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 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 Sandy, 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 Sandy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Sandy, the highest and lowest median tax bills are both $2,853, found in zip code 84070.
Average Sandy Assessed Value
$546,529
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 Sandy, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84070 | $546,529 | $546,529 | $546,529 | $546,529 | $546,529 |
Source: Ownwell
Property Tax Bills Across Sandy, Utah
In Sandy, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the home's market value, location, and any applicable exemptions or deductions are considered in this assessment. Homeowners in Sandy experience a median property tax bill of $2,853, which is consistent across different percentiles, indicating a level of uniformity in tax assessments within the area. This figure is notably higher than the national median property tax rate of 0.99%, reflecting the higher property values in the region. For homeowners, this means that property taxes represent a significant annual expense, impacting their overall cost of homeownership. Understanding how these taxes are calculated can help homeowners plan their finances more effectively and ensure they are taking advantage of any available tax relief options.
Average Sandy Tax Bill
$2,853
Average Summit County Tax Bill
$4,794
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Sandy, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84070 | $2,853 | $2,853 | $2,853 | $2,853 | $2,853 |
Source: Ownwell