Herriman, Utah Property Taxes
The median property tax rate in Herriman, UT is 0.66%, slightly higher than the Utah state median of 0.55% but still below the national median of 0.99%. With the median home value in Herriman, the typical annual property tax bill reaches $1,414, which is significantly lower than the national median of $2,690. Property taxes in Herriman are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Herriman'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 Herriman 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
Herriman, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$713
Ownwell’s Herriman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Herriman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Herriman 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 Herriman, Utah
Property taxes in Herriman, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Herriman is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Herriman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Herriman 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 Herriman's effective property tax rate to other areas in Utah and the national median. For comparison, the zip code 84096 has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Herriman provides valuable insights into the varying tax landscape across Salt Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Herriman Tax Rate
0.66%
Average Washington County Tax Rate
0.40%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Herriman, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84096 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Herriman, Utah
In Herriman, 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 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 Herriman, 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 Herriman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 84096 has both the highest and lowest median tax bill at $1,414, reflecting the uniformity in property tax assessments within the area.
Average Herriman Assessed Value
$108,000
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 Herriman, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84096 | $108,000 | $108,000 | $108,000 | $161,500 | $193,600 |
Source: Ownwell
Property Tax Bills Across Herriman, Utah
In Herriman, property tax bills are calculated based on the assessed value of the home, which is determined by the local county assessor. This assessed value is a percentage of the market value of the property. Washington County uses this assessed value to apply the local property tax rate, which is then used to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and overall condition. Additionally, market trends and recent sales of comparable properties in the area can impact the assessed value. For homeowners in Herriman, the median property tax rate is 0.99%, aligning with the national median. The median home price in Herriman is $108,000, leading to a typical tax bill of around $1,414. This tax bill can impact homeowners' budgets and financial planning, making it essential to understand how these taxes are calculated and what factors may lead to changes in the assessed value over time.
Average Herriman Tax Bill
$1,414
Average Washington County Tax Bill
$1,953
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Herriman, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84096 | $1,414 | $1,414 | $1,414 | $1,414 | $1,414 |
Source: Ownwell