Layton, Utah Property Taxes
The median property tax rate in Layton, UT is 0.54%, slightly lower than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $444,000 in Layton, the typical annual property tax bill amounts to $2,366, which is below the national median of $2,690. Property taxes in Layton are determined based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Gaining a thorough understanding of Layton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in the heart of Layton or another part of the city, being well-informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Layton, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$2,398
Ownwell’s Layton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Layton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Layton 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 Layton, Utah
Property taxes in Layton, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Layton is 0.54%, which is lower than the U.S. national median of 0.99%. Local government entities within Layton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Layton 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 Layton's effective property tax rate to other areas in Davis County and the national median. For comparison, the 84040 zip code has the highest median property tax rate of 0.54%, while the 84041 zip code has the lowest median tax rate of 0.54%. Understanding how these areas compare with Layton provides valuable insights into the varying tax landscape across Davis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Layton Tax Rate
0.54%
Average Davis County Tax Rate
0.56%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Layton, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84040 | 0.54% | 0.54% | 0.54% | 0.57% | 0.59% |
| 84041 | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Layton, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Layton, 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 Davis 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 Layton, 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, the highest median tax bill in Layton is $2,779 in the 84040 zip code, while the lowest median tax bill is $2,173 in the 84041 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Layton Assessed Value
$444,000
Average Davis County Assessed Value
$472,000
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Layton, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84040 | $380,000 | $426,000 | $509,000 | $610,000 | $728,000 |
| 84041 | $313,000 | $352,000 | $409,000 | $521,000 | $664,000 |
Source: Ownwell
Property Tax Bills Across Layton, Utah
In Layton, situated in Davis 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 a percentage of the property's market value, reflecting the home's worth in the current real estate market. For instance, with a median home price of $444,000, homeowners can expect their tax bill to be influenced by this valuation. The tax rate applied to the assessed value is a crucial factor in determining the final tax bill. In Layton, the property tax bill varies significantly, with the 25th percentile tax bill at $1,953 and the 75th percentile reaching $3,101. The highest median tax bill in the area is $2,779 in the 84040 zip code, while the lowest is $2,173 in the 84041 zip code. These taxes fund essential public services, such as schools and emergency services, impacting homeowners by contributing to community development and property value stability. Comparing to the national median property tax rate of 0.99%, Layton's tax rates and bills provide a local perspective on how property taxes are structured and their effects on residents.
Average Layton Tax Bill
$2,366
Average Davis County Tax Bill
$2,654
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Layton, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84040 | $1,872 | $2,248 | $2,779 | $3,359 | $4,056 |
| 84041 | $1,588 | $1,851 | $2,173 | $2,790 | $3,568 |
Source: Ownwell