American Fork, Utah Property Taxes
The median property tax rate in American Fork, UT is 0.60%, which is slightly higher than the Utah state median of 0.55% but lower than the national median of 0.99%. With the median home value in American Fork at $295,500, the typical annual property tax bill reaches $2,384, which is below the national median of $2,690. Property taxes in American Fork are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding American Fork'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 American Fork 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
American Fork, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,773
Ownwell’s American Fork Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in American Fork with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in American Fork 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 American Fork, Utah
Property taxes in American Fork, Utah, are essential in funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in American Fork is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within American Fork set these rates annually, and they can vary significantly across different neighborhoods. Each year, American Fork 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 American Fork's effective property tax rate to other counties in Utah and the national median. For comparison, the 84003 zip code has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with American Fork 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 American Fork Tax Rate
0.60%
Average Washington County Tax Rate
0.40%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across American Fork, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84003 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across American Fork, Utah
In American Fork, 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 Washington County Appraisal District 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 American Fork, 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 American Fork helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 84003 at $2,384, which is also the lowest median tax bill.
Average American Fork Assessed Value
$295,500
Average Washington County Assessed Value
$457,600
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across American Fork, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84003 | $215,900 | $245,750 | $295,500 | $345,250 | $375,100 |
Source: Ownwell
Property Tax Bills Across American Fork, Utah
In American Fork, Utah, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For example, if the median home price in American Fork is $295,500, the assessed value would be a fraction of this amount, subject to local assessment ratios. The tax rate is then applied to the assessed value to determine the annual property tax bill. In American Fork, the median property tax bill is $2,384, which is significantly higher than the national median property tax rate of 0.99%. Factors such as property improvements, location, and market conditions can influence the assessed value, thereby affecting the tax bill. Homeowners in American Fork should be aware that their property tax bills can impact their overall housing costs. High property taxes can affect affordability, making it essential for homeowners to understand how their tax bills are calculated and what factors come into play.
Average American Fork Tax Bill
$2,384
Average Washington County Tax Bill
$1,953
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across American Fork, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84003 | $2,384 | $2,384 | $2,384 | $2,384 | $2,384 |
Source: Ownwell