Big Water, Utah Property Taxes
The median property tax rate in Big Water, UT is 0.81%, slightly lower than the national median of 0.99% but significantly higher than the Utah state median of 0.55%. With the median home value in Big Water at $240,668, the typical annual property tax bill reaches $2,502, which is below the national median of $2,690. Property taxes in Big Water are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Big Water'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 Big Water or another part of Kane County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Big Water, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,949
Ownwell’s Big Water Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Big Water with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Big Water 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 Big Water, Utah
Property taxes in Big Water, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Water is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Big Water set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Water 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 Big Water's effective property tax rate to other counties in Utah and the national median. For comparison, the zip code 84741 has both the highest and lowest median property tax rate of 0.81%. Understanding how these cities compare with Big Water provides valuable insights into the varying tax landscape across Kane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Water Tax Rate
0.81%
Average Kane County Tax Rate
0.74%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Water, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84741 | 0.57% | 0.57% | 0.81% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Big Water, Utah
In Big Water, 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 Kane 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 Big Water, 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 Big Water helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 84741 has both the highest and lowest median tax bills, each at $2,502, reflecting the uniformity in property tax assessments within the area.
Average Big Water Assessed Value
$240,668
Average Kane County Assessed Value
$283,025
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Water, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84741 | $85,963 | $180,339 | $240,668 | $318,872 | $445,420 |
Source: Ownwell
Property Tax Bills Across Big Water, Utah
In Big Water, located in Kane 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 tax rate to determine the annual tax bill. For homeowners in Big Water, the median home price stands at $240,668. The property tax rate in this region results in a median tax bill of approximately $2,502, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the market value of the property, any applicable exemptions, and the specific tax rate set by local authorities. Homeowners in the 25th percentile can expect a tax bill of around $1,847, while those in the 75th percentile may see bills as high as $2,699. For those in the 90th percentile, the tax bill could reach up to $2,907. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Big Water Tax Bill
$2,502
Average Kane County Tax Bill
$1,926
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Water, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84741 | $818 | $1,847 | $2,502 | $2,699 | $2,907 |
Source: Ownwell