Kolob, Utah Property Taxes
The median property tax rate in Kolob, Utah is 0.71%, slightly lower than the national median of 0.99% but higher than Utah's state median of 0.55%. With the median home value in Kolob at $141,800, the typical annual property tax bill reaches $1,098, which is below the national median of $2,690. Property taxes in Kolob 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 Kolob'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 Kolob 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
Kolob, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$1,007
Ownwell’s Kolob Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kolob with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kolob 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 Kolob, Utah
Property taxes in Kolob, Utah, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Kolob is 0.58%, which is lower than both the Utah state median of 0.63% and the U.S. national median of 0.99%. Local government entities within Kolob set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kolob 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 Kolob's effective property tax rate to other counties in Utah and the national median. For comparison, the 84032 zip code has the highest median property tax rate of 0.72%, while the 84790 zip code has the lowest median tax rate of 0.50%. Understanding how these cities compare with Kolob provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kolob Tax Rate
0.71%
Average Washington County Tax Rate
0.40%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kolob, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Kolob, Utah
In Kolob, 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 Kolob, 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. For instance, homeowners in the 84701 zip code face the highest tax bills, averaging $2,825, while those in the 84702 zip code see the lowest, averaging $481. Being aware of these valuation processes in Kolob helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kolob Assessed Value
$141,800
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 Kolob, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Kolob, Utah
In Kolob, Washington County, UT, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, and local tax rates are applied to this assessed value to determine the tax bill. Various factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For homeowners in Kolob, the median home price is $141,800. Tax bills can vary significantly, with the 25th percentile tax bill at $481 and the 75th percentile reaching $1,751. In some cases, tax bills can be as high as $2,825, placing a considerable financial burden on some homeowners. These variations highlight the importance of understanding how property taxes are calculated and the potential impact on personal finances. Compared to the national median property tax rate of 0.99%, Kolob homeowners may find their property tax rates to be relatively manageable, yet it's crucial to stay informed and explore possible exemptions to reduce the tax burden.
Average Kolob Tax Bill
$1,098
Average Washington County Tax Bill
$1,953
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Kolob, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell