Tooele, Utah Property Taxes
The median property tax rate in Tooele, UT is 0.59%, slightly higher than the state median of 0.55% but below the national median of 0.99%. With a median home value of $422,676, the typical annual property tax bill in Tooele reaches $2,479, which is under the national median of $2,690. Property taxes in Tooele are calculated based on the assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Tooele'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 Tooele 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
Tooele, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$2,494
Ownwell’s Tooele Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tooele with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tooele 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 Tooele, Utah
Property taxes in Tooele, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tooele is 0.59%, significantly lower than the U.S. national median of 0.99%. Local government entities within Tooele set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tooele 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 Tooele's effective property tax rate to other counties in Utah and the national median. For comparison, the 84074 zip code has the same median property tax rate of 0.59%. Understanding how these cities compare with Tooele provides valuable insights into the varying tax landscape across Tooele County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tooele Tax Rate
0.59%
Average Tooele County Tax Rate
0.59%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tooele, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84074 | 0.55% | 0.59% | 0.59% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Tooele, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Tooele, 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 Tooele 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. Assessment notices in Tooele 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. The median home price in Tooele is $422,676, with property tax bills ranging from $2,101 at the 25th percentile to $3,597 at the 90th percentile. The zip code 84074 has the highest and lowest median tax bill of $2,479. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tooele Assessed Value
$422,676
Average Tooele County Assessed Value
$428,538
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tooele, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84074 | $302,137 | $363,539 | $422,676 | $506,789 | $614,439 |
Source: Ownwell
Property Tax Bills Across Tooele, Utah
Property tax bills in Tooele, Utah are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Tooele is $422,676, and the property tax rate is applied to this assessed value to determine the annual tax bill. For example, homeowners in the 25th percentile can expect to pay around $2,101 annually, while those in the 75th percentile face approximately $2,981. The 90th percentile tax bill reaches up to $3,597. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. The highest median tax bill in the area is $2,479, found in zip code 84074, which is the same as the lowest median tax bill, indicating a uniform tax rate within this zip code. Compared to the national median property tax rate of 0.99%, Tooele's rates are competitive, offering a balanced approach to property taxation that impacts homeowners' financial planning and overall cost of living.
Average Tooele Tax Bill
$2,479
Average Tooele County Tax Bill
$2,475
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Tooele, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84074 | $1,634 | $2,101 | $2,479 | $2,981 | $3,597 |
Source: Ownwell