Marysvale, Utah Property Taxes
The median property tax rate in Marysvale, UT is 0.98%, slightly below the national median of 0.99% but significantly higher than the Utah state median of 0.55%. With a median home value of $116,772 in Marysvale, the typical annual property tax bill amounts to $943, which is well below the national median of $2,690. Property taxes in Marysvale are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Marysvale's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Marysvale or another part of Piute County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marysvale, 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 Marysvale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marysvale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marysvale 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 Marysvale, Utah
Property taxes in Marysvale, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marysvale is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Marysvale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marysvale 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 zip code 84750 has the highest median property tax rate of 0.98%, while the same zip code also has the lowest median tax rate of 0.98%. Understanding how these areas compare with Marysvale 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 Marysvale Tax Rate
0.98%
Average Piute County Tax Rate
0.84%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marysvale, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84750 | 0.54% | 0.58% | 0.98% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Marysvale, Utah
In Marysvale, 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 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 Marysvale, 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 example, the median home price in Marysvale is $116,772, with tax bills ranging from $526 at the 25th percentile to $3,402 at the 90th percentile. The highest and lowest median tax bills are both $943, found in zip code 84750. 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 Marysvale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marysvale Assessed Value
$116,772
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 Marysvale, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84750 | $40,768 | $52,758 | $116,772 | $265,761 | $407,238 |
Source: Ownwell
Property Tax Bills Across Marysvale, Utah
In Marysvale, located in Piute County, UT, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. For a median home price of $116,772, homeowners can expect varying tax bills depending on their property's assessed value and the local tax rate. The tax bill at the 25th percentile is approximately $526, while at the 75th percentile, it rises to about $1,464. Those in the 90th percentile may see tax bills as high as $3,402. Several factors influence these amounts, including the property's location within the county, any applicable exemptions, and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, Marysvale’s property tax rates can be considered moderate, offering some relief to homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their finances more effectively.
Average Marysvale Tax Bill
$943
Average Piute County Tax Bill
$710
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Marysvale, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84750 | $328 | $526 | $943 | $1,464 | $3,402 |
Source: Ownwell