Willard, Utah Property Taxes
The median property tax rate in Willard, UT is 0.47%, considerably lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Willard at $564,216, the typical annual property tax bill reaches $2,587, which is slightly below the national median of $2,690. Property taxes in Willard 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 Willard'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 Willard 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
Willard, 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 Willard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Willard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Willard 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 Willard, Utah
Property taxes in Willard, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Willard is 0.47%, significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Willard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willard 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 Willard's effective property tax rate to other counties in Utah and the national median. For comparison, the 84340 zip code has the highest median property tax rate of 0.47%, while the 84340 zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Willard 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 Willard Tax Rate
0.47%
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 Willard, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84340 | 0.39% | 0.44% | 0.47% | 0.49% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Willard, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Willard, Utah. 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 Willard, 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. The median home price in Willard is $564,216, with tax bills ranging from $1,954 at the 25th percentile to $3,763 at the 90th percentile. Notably, the zip code 84340 has both the highest and lowest median tax bill at $2,587. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Willard Assessed Value
$564,216
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 Willard, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84340 | $370,067 | $450,991 | $564,216 | $690,524 | $797,699 |
Source: Ownwell
Property Tax Bills Across Willard, Utah
In Willard, Box Elder County, property tax bills are calculated based on a combination of the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and is meant to reflect the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Willard, the median home price is $564,216. Property tax bills in this area can vary significantly; for instance, the tax bill at the 25th percentile is $1,954, while at the 75th percentile, it rises to $3,247. At the 90th percentile, homeowners could see tax bills as high as $3,763. The highest median tax bill in the county is $2,587, which is also the lowest median tax bill, indicating a uniform rate across the area. These tax bills impact homeowners by contributing to the overall cost of homeownership, influencing decisions on buying or selling property, and affecting monthly mortgage payments when taxes are escrowed.
Average Willard Tax Bill
$2,587
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 Willard, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84340 | $1,408 | $1,954 | $2,587 | $3,247 | $3,763 |
Source: Ownwell