Honeyville, Utah Property Taxes
The median property tax rate in Honeyville, UT is 0.42%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Honeyville at $489,086, the typical annual property tax bill reaches $2,040, which is below the national median of $2,690. Property taxes in Honeyville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Honeyville'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 Honeyville 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
Honeyville, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$2,054
Ownwell’s Honeyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Honeyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Honeyville 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 Honeyville, Utah
Property taxes in Honeyville, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Honeyville is 0.42%, lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Honeyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Honeyville 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 Honeyville's effective property tax rate to other counties in Utah and the national median. For comparison, the 84314 zip code has both the highest and lowest median property tax rate of 0.42%. Understanding how these cities compare with Honeyville provides valuable insights into the varying tax landscape across Box Elder County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Honeyville Tax Rate
0.42%
Average Box Elder County Tax Rate
0.49%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Honeyville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84314 | 0.34% | 0.39% | 0.42% | 0.44% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Honeyville, Utah
In Honeyville, 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 Box Elder 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 Honeyville, 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. For instance, the highest and lowest median tax bills in the area are both $2040 in the zip code 84314. 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 Honeyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Honeyville Assessed Value
$489,086
Average Box Elder County Assessed Value
$420,318
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Honeyville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84314 | $312,993 | $396,166 | $489,086 | $593,110 | $813,378 |
Source: Ownwell
Property Tax Bills Across Honeyville, Utah
In Honeyville, located in Box Elder County, UT, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $489,086, homeowners can expect varying tax bills depending on their home's assessed value and applicable exemptions. The tax bill can range significantly, with the 25th percentile at $1,539 and the 75th percentile at $2,525. At the 90th percentile, homeowners might see tax bills as high as $3,345. These figures highlight the variability in property taxes within Honeyville, influenced by factors such as property size, location, and any eligible exemptions. Compared to the national median property tax rate of 0.99%, Honeyville's tax rates can result in diverse tax burdens, impacting homeowners' annual financial planning. Understanding these factors is crucial for homeowners to anticipate their property tax obligations and manage their budgets effectively.
Average Honeyville Tax Bill
$2,040
Average Box Elder County Tax Bill
$1,988
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Honeyville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84314 | $1,071 | $1,539 | $2,040 | $2,525 | $3,345 |
Source: Ownwell