Vernon, Utah Property Taxes
The median property tax rate in Vernon, UT is 0.48%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Vernon at $299,584, the typical annual property tax bill reaches $1,143, well below the national median of $2,690. Property taxes in Vernon 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 Vernon'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 Vernon 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
Vernon, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$1,438
Ownwell’s Vernon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vernon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vernon 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 Vernon, Utah
Property taxes in Vernon, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vernon is 0.48%, lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Vernon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vernon 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 Vernon's effective property tax rate to other counties in Utah and the national median. For comparison, the 84080 zip code has the highest median property tax rate of 0.48%, while the same 84080 zip code has the lowest median tax rate of 0.48%. Understanding how these cities compare with Vernon 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 Vernon Tax Rate
0.48%
Average Tooele County Tax Rate
0.59%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vernon, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84080 | 0.18% | 0.44% | 0.48% | 0.49% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Vernon, Utah
In Vernon, 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 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. In Vernon, 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 Vernon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Vernon are both $1,143 in the 84080 zip code.
Average Vernon Assessed Value
$299,584
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 Vernon, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84080 | $163,310 | $205,646 | $299,584 | $396,539 | $626,887 |
Source: Ownwell
Property Tax Bills Across Vernon, Utah
In Vernon, located in Tooele County, UT, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the local tax assessor and is a percentage of the property's market value. Various factors influence this assessment, including the property's location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Homeowners in Vernon experience a range of property tax bills. For instance, the 25th percentile tax bill is $867, while the 75th percentile tax bill reaches $1809. At the higher end, the 90th percentile tax bill can be as much as $2773. These figures demonstrate how the assessed value and local tax rate directly impact what homeowners owe. Comparatively, the national median property tax rate is 0.99%. Understanding these components helps homeowners in Vernon anticipate their tax obligations and plan their finances accordingly.
Average Vernon Tax Bill
$1,143
Average Tooele County Tax Bill
$2,475
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Vernon, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84080 | $545 | $867 | $1,143 | $1,809 | $2,773 |
Source: Ownwell