Syracuse, Utah Property Taxes
The median property tax rate in Syracuse, Utah is 0.57%, slightly higher than the Utah state median of 0.55% but still below the national median of 0.99%. With the median home value in Syracuse at $496,000, the typical annual property tax bill amounts to $2,774, just above the national median of $2,690. Property taxes in Syracuse are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Syracuse'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 Syracuse 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
Syracuse, 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 Syracuse Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Syracuse with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Syracuse 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 Syracuse, Utah
Property taxes in Syracuse, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Syracuse is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Syracuse set these rates annually, and they can vary significantly across different neighborhoods. Each year, Syracuse 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 Syracuse's effective property tax rate to other counties in Utah and the national median. For comparison, the 84075 zip code has both the highest and lowest median property tax rate of 0.57%. Understanding how these cities compare with Syracuse 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 Syracuse Tax Rate
0.57%
Average Davis County Tax Rate
0.56%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Syracuse, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84075 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Syracuse, Utah
In Syracuse, 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 Davis 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 Syracuse, 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 Syracuse helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills both amount to $2,774 in the 84075 zip code.
Average Syracuse Assessed Value
$496,000
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 Syracuse, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84075 | $374,000 | $432,000 | $496,000 | $576,000 | $658,000 |
Source: Ownwell
Property Tax Bills Across Syracuse, Utah
In Syracuse, Davis County, UT, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, reflecting what the property would likely sell for in the current market. Various factors, including property size, location, and any improvements or renovations, influence this value. Homeowners in Syracuse can expect tax bills to vary significantly. For instance, the 25th percentile tax bill stands at $2,367, while the 75th percentile reaches $3,232. At the 90th percentile, homeowners might see a bill as high as $3,695. Notably, the median tax bill in the area is $2,774, which is relatively high compared to the national median property tax rate of 0.99%. This substantial tax burden can impact homeowners' financial planning and overall cost of living, making it crucial for them to understand and potentially appeal their property assessments.
Average Syracuse Tax Bill
$2,774
Average Davis County Tax Bill
$2,654
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Syracuse, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84075 | $1,989 | $2,367 | $2,774 | $3,232 | $3,695 |
Source: Ownwell