Washington Terrace, Utah Property Taxes
The median property tax rate in Washington Terrace, UT is 0.60%, slightly higher than the Utah state median of 0.55% but still below the national median of 0.99%. With a median home value of $631,000, the typical annual property tax bill in Washington Terrace reaches $3,785, well above the national median of $2,690. Property taxes in Washington Terrace 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 Washington Terrace'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 Washington Terrace 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
Washington Terrace, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$3,786
Ownwell’s Washington Terrace Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washington Terrace with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washington Terrace 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 Washington Terrace, Utah
Property taxes in Washington Terrace, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington Terrace is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Washington Terrace set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington Terrace 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 Washington Terrace's effective property tax rate to other counties in Utah and the national median. For comparison, the zip code 84405 has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Washington Terrace provides valuable insights into the varying tax landscape across Weber County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Washington Terrace Tax Rate
0.60%
Average Weber County Tax Rate
0.64%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washington Terrace, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84405 | 0.42% | 0.60% | 0.60% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Washington Terrace, Utah
In Washington Terrace, 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 Weber 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 Washington Terrace, 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 Washington Terrace helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,785, located in zip code 84405.
Property Tax Assessment Values Across Washington Terrace, Utah
Source: Ownwell
$50,504
$2,561,252
$5,072,000
Average Washington Terrace Assessed Value
$631,000
Average Weber County Assessed Value
$413,000
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Washington Terrace, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84405 | $483,640 | $525,000 | $631,000 | $806,000 | $836,400 |
Source: Ownwell
Property Tax Bills Across Washington Terrace, Utah
In Washington Terrace, located in Weber County, UT, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is a percentage of your property's market value. The property tax rate in Washington Terrace is applied to this assessed value to determine your annual tax bill. Several factors influence your property tax bill, including the market value of your home, local tax rates, and any applicable exemptions or deductions. For instance, the median home price in Washington Terrace is $631,000. The tax bills in this area range significantly, with the 25th percentile at $3,184 and the 75th percentile at $4,865, while the 90th percentile reaches $5,078. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Washington Terrace residents experience a relatively moderate property tax burden, ensuring essential services are funded while maintaining a balanced cost of living.
Average Washington Terrace Tax Bill
$3,785
Average Weber County Tax Bill
$2,637
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington Terrace, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84405 | $1,971 | $3,184 | $3,785 | $4,865 | $5,078 |
Source: Ownwell