Provo Canyon, Utah Property Taxes
The median property tax rate in Provo Canyon, UT is 0.81%, which is lower than the national median of 0.99% but significantly higher than the Utah state median of 0.55%. With the median home value in Provo Canyon at $1,194,900, the typical annual property tax bill reaches $6,829, well above the national median of $2,690. Property taxes in Provo Canyon are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Provo Canyon'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 Provo Canyon 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
Provo Canyon, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$9,679
Ownwell’s Provo Canyon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Provo Canyon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Provo Canyon 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 Provo Canyon, Utah
Property taxes in Provo Canyon, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Provo Canyon is 0.81%, lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Provo Canyon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Provo Canyon 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 Provo Canyon's effective property tax rate to other areas in Utah and the national median. For comparison, the 84604 zip code has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Provo Canyon provides valuable insights into the varying tax landscape across Utah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Provo Canyon Tax Rate
0.81%
Average Utah County Tax Rate
0.47%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Provo Canyon, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84604 | 0.45% | 0.45% | 0.81% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Provo Canyon, Utah
In Provo Canyon, 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 Utah 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 Provo Canyon, 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 Provo Canyon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Provo Canyon are both $6,829, found in the 84604 zip code.
Average Provo Canyon Assessed Value
$1,194,900
Average Utah County Assessed Value
$478,000
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Provo Canyon, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84604 | $221,640 | $348,075 | $1,194,900 | $1,565,400 | $1,693,290 |
Source: Ownwell
Property Tax Bills Across Provo Canyon, Utah
In Provo Canyon, Utah County, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value, influenced by factors such as location, property size, and home condition. Homeowners in this region can expect their tax bills to vary significantly, with the 25th percentile at $2,750 and the 75th percentile reaching $8,485. The 90th percentile tax bill can go up to $10,460, indicating a wide range of property values and corresponding tax obligations. Compared to the national median property tax rate of 0.99%, Provo Canyon's tax rates reflect the unique economic and real estate conditions of the area. For instance, the highest median tax bill recorded in the 84604 zip code is $6,829. These tax bills directly impact homeowners' annual budgets, influencing decisions on home purchases and long-term financial planning. Understanding these factors helps homeowners anticipate their property tax liabilities and manage their finances accordingly.
Average Provo Canyon Tax Bill
$6,829
Average Utah County Tax Bill
$2,288
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Provo Canyon, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84604 | $1,793 | $2,750 | $6,829 | $8,485 | $10,460 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | September 15 |
| Tax Bill | |
| Issued | October 1 |
Links | |
|---|---|
| Utah Tax Assessor | |
| Phone | (801) 851-8109 |
| Website | www.utahcounty.gov |