Oasis, Utah Property Taxes
The median property tax rate in Oasis, UT is 0.56%, slightly higher than the Utah state median of 0.55% but lower than the national median of 0.99%. With a median home value of $270,257 in Oasis, the typical annual property tax bill is around $1,513, significantly below the national median of $2,690. Property taxes in Oasis are determined based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Familiarizing yourself with Oasis's property tax system, exploring available exemptions, and finding opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Oasis or another part of Millard County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Oasis, 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 Oasis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oasis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oasis 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 Oasis, Utah
Property taxes in Oasis, Utah, play a critical role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oasis is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Oasis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oasis 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 Oasis's effective property tax rate to other counties in Utah and the national median. For comparison, the 84624 zip code has both the highest and lowest median property tax rate of 0.56%. Understanding how these areas compare with Oasis provides valuable insights into the varying tax landscape across Millard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oasis Tax Rate
0.56%
Average Millard County Tax Rate
0.56%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oasis, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84624 | 0.48% | 0.56% | 0.56% | 0.56% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Oasis, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oasis, 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 Millard 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 Oasis, 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 median home price is around $270,257, and tax bills can vary significantly. The lowest median tax bill is $782, while the highest is $2,709. 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 Oasis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oasis Assessed Value
$270,257
Average Millard County Assessed Value
$272,297
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oasis, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84624 | $111,872 | $177,337 | $270,257 | $383,153 | $457,509 |
Source: Ownwell
Property Tax Bills Across Oasis, Utah
In Oasis, property tax bills are calculated based on the assessed value of a home, which is determined by the Millard County assessor. This assessed value is then multiplied by the local tax rate to determine the tax bill. The median home price in Oasis is $270,257, and the property tax rate is relatively lower compared to the national median of 0.99%. Several factors influence the tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions. In Oasis, the 25th percentile of tax bills is $782, while the 75th percentile is $2,390, showcasing the range of tax burdens homeowners might face. For those at the 90th percentile, the tax bill can go up to $2,709. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding how these factors interplay can help homeowners anticipate their financial responsibilities and plan accordingly.
Average Oasis Tax Bill
$1,513
Average Millard County Tax Bill
$1,608
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Oasis, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84624 | $586 | $782 | $1,513 | $2,390 | $2,709 |
Source: Ownwell