Lehi, Utah Property Taxes
The median property tax rate in Lehi, UT is 0.67%, which is lower than the national median of 0.99% but higher than the Utah state median of 0.55%. With a median home value of $185,000 in Lehi, the typical annual property tax bill amounts to $1,232, which is below the national median of $2,690. Property taxes in Lehi are calculated based on the assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Lehi'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 Lehi or elsewhere in the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lehi, 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 Lehi Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lehi with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lehi 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 Lehi, Utah
Property taxes in Lehi, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lehi is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Lehi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lehi 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 Lehi's effective property tax rate to other areas in Utah and the national median. For comparison, the 84043 zip code has the highest median property tax rate of 0.67%, while the same 84043 zip code also has the lowest median tax rate of 0.67%. Understanding how these areas compare with Lehi 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 Lehi Tax Rate
0.67%
Average Washington County Tax Rate
0.40%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lehi, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84043 | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Lehi, Utah
In Lehi, 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 Lehi, 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 Lehi helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Lehi, both at $1,232, are found in zip code 84043.
Average Lehi Assessed Value
$185,000
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 Lehi, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84043 | $185,000 | $185,000 | $185,000 | $185,000 | $185,000 |
Source: Ownwell
Property Tax Bills Across Lehi, Utah
In Lehi, Washington County, UT, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value. Homeowners in Lehi face a median property tax bill of $1,232, which is considerably lower than the national median property tax rate of 0.99%. Factors that influence the tax bill include the property's location, size, and any applicable exemptions or deductions. The tax rate is applied to the assessed value to determine the final tax bill. For instance, a home with a median market price of $185,000 would have its tax bill calculated by applying the local tax rate to the assessed value. This tax bill can impact homeowners by influencing their overall housing costs and potentially affecting their ability to afford other expenses. Understanding how property taxes are calculated helps homeowners plan their finances more effectively and anticipate annual tax obligations.
Average Lehi Tax Bill
$1,232
Average Washington County Tax Bill
$1,953
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Lehi, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84043 | $1,232 | $1,232 | $1,232 | $1,232 | $1,232 |
Source: Ownwell