Santaquin, Utah Property Taxes
The median property tax rate in Santaquin, UT is 0.55%, which aligns with the state median but is notably lower than the national median of 0.99%. With a median home value of $421,000 in Santaquin, the typical annual property tax bill amounts to $2,314, falling short of the national median of $2,690. Property taxes in Santaquin are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Santaquin'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 Santaquin or another part of Utah County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Santaquin, Utah Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Santaquin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Santaquin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Santaquin 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 Santaquin, Utah
Property taxes in Santaquin, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Santaquin is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Santaquin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Santaquin 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 Santaquin's effective property tax rate to other counties in Utah and the national median. For comparison, the zip code 84655 has both the highest and lowest median property tax rate of 0.55%. Understanding how these areas compare with Santaquin 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 Santaquin Tax Rate
0.55%
Average Utah County Tax Rate
0.47%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Santaquin, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84655 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Santaquin, Utah
In Santaquin, 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. 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 Santaquin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 84655 has the highest median tax bill at $2,314, while the lowest median tax bill is also $2,314 in the same zip code.
Average Santaquin Assessed Value
$421,000
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 Santaquin, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84655 | $318,700 | $370,500 | $421,000 | $484,450 | $568,960 |
Source: Ownwell
Property Tax Bills Across Santaquin, Utah
In Santaquin, Utah County, property tax bills are determined based on the assessed value of a home, which is derived from the market value. The median home price in Santaquin is $421,000. Property tax rates are applied to this assessed value to calculate the annual tax bill. Factors influencing the tax bill include local government budgets, school funding requirements, and public service needs. The tax bill can vary significantly across different homes. For instance, in Santaquin, the 25th percentile tax bill is $2,029, while the 75th percentile tax bill is $2,668, and the 90th percentile tax bill reaches $3,135. These variations reflect differences in home values and specific tax rates applied within the area. For homeowners, this means that property taxes can represent a substantial annual expense. Comparing Santaquin’s property tax rate to the national median rate of 0.99%, homeowners can gauge how their local tax obligations stack up against broader trends. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Santaquin Tax Bill
$2,314
Average Utah County Tax Bill
$2,288
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Santaquin, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84655 | $1,752 | $2,029 | $2,314 | $2,668 | $3,135 |
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 |