Junction, Utah Property Taxes
The median property tax rate in Junction, Utah is 0.99%, aligning with the national median of 0.99% but significantly higher than the Utah state median of 0.55%. With the median home value in Junction, the typical annual property tax bill reaches $552, which is notably lower than the national median of $2,690. Property taxes in Junction are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Junction'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 Junction 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
Junction, 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 Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Junction 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 Junction, Utah
Property taxes in Junction, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Junction is 0.47%, lower than both the Utah state median of 0.58% and the U.S. national median of 0.99%. Local government entities within Junction set these rates annually, and they can vary significantly across different neighborhoods. Each year, Junction 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. For comparison, the 84740 zip code has the highest median property tax rate of 0.99%, while the 84740 zip code also has the lowest median tax rate of 0.99%. Understanding how these cities compare with Junction provides valuable insights into the varying tax landscape across Piute County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Junction Tax Rate
0.99%
Average Piute County Tax Rate
0.84%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Junction, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84740 | 0.54% | 0.55% | 0.99% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Junction, Utah
In Junction, 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 Piute 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 Junction, 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 Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Junction is $90,379, with tax bills ranging from $433 at the 25th percentile to $2,205 at the 90th percentile. The zip code 84740 has both the highest and lowest median tax bill at $552.
Average Junction Assessed Value
$90,379
Average Piute County Assessed Value
$99,258
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Junction, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84740 | $34,518 | $51,468 | $90,379 | $231,257 | $297,023 |
Source: Ownwell
Property Tax Bills Across Junction, Utah
In Junction, located in Piute County, UT, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in Junction is $90,379. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the property's location, its assessed value, and the local tax rate. For homeowners in Junction, the property tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $433, while at the 75th percentile, it rises to $1,612. At the 90th percentile, homeowners might see a tax bill as high as $2,205. The highest median tax bill in the area is recorded at $552 in the 84740 zip code, which also represents the lowest median tax bill, indicating a consistent rate within that region. These property taxes play a crucial role in funding local services, affecting homeowners' overall financial planning and community resources.
Average Junction Tax Bill
$552
Average Piute County Tax Bill
$710
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Junction, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84740 | $350 | $433 | $552 | $1,612 | $2,205 |
Source: Ownwell