Midvale, Utah Property Taxes
The median property tax rate in Midvale, UT is 0.60%, 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 Midvale at $412,500, the typical annual property tax bill reaches $2,452, which is below the national median of $2,690. Property taxes in Midvale are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Midvale'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 Midvale 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
Midvale, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$2,475
Ownwell’s Midvale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Midvale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Midvale 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 Midvale, Utah
Property taxes in Midvale, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Midvale is 0.60%, significantly lower than the U.S. national median of 0.99%. Local government entities within Midvale set these rates annually, and they can vary across different neighborhoods. Each year, Midvale 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 Midvale's effective property tax rate to other areas in Salt Lake County and the national median. For comparison, the 84084 zip code has the highest median property tax rate of 0.66%, while the 84047 zip code has the lowest median tax rate of 0.60%. Understanding how these areas compare with Midvale provides valuable insights into the varying tax landscape across Salt Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Midvale Tax Rate
0.60%
Average Salt Lake County Tax Rate
0.56%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Midvale, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84047 | 0.56% | 0.59% | 0.60% | 0.61% | 0.61% |
| 84070 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
| 84084 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Midvale, Utah
In Midvale, 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 Salt Lake 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 Midvale, 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 Midvale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $2,718 in the 84084 zip code, while the lowest is $2,451 in the 84047 zip code.
Average Midvale Assessed Value
$412,500
Average Salt Lake County Assessed Value
$475,200
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Midvale, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84047 | $271,190 | $347,100 | $412,500 | $477,175 | $549,900 |
| 84070 | $328,550 | $354,450 | $412,300 | $458,350 | $535,140 |
| 84084 | $412,800 | $412,800 | $412,800 | $412,800 | $412,800 |
Source: Ownwell
Property Tax Bills Across Midvale, Utah
In Midvale, property tax bills are calculated based on the assessed value of a home, which is determined by the Salt Lake County Assessor's office. This assessed value is then multiplied by the local tax rate to determine the total tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Midvale is $412,500, and tax bills can vary widely. The 25th percentile tax bill is around $2,001, while the 75th percentile reaches $2,880, and the 90th percentile can be as high as $3,310. When compared to the national median property tax rate of 0.99%, Midvale homeowners experience a diverse range of tax obligations. The highest median tax bill in the area is $2,718 in the 84084 zip code, whereas the lowest is $2,451 in the 84047 zip code. These variations in tax bills impact homeowners' financial planning and can influence decisions on property investments and home improvements.
Average Midvale Tax Bill
$2,452
Average Salt Lake County Tax Bill
$2,800
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Midvale, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84047 | $1,388 | $1,997 | $2,451 | $2,880 | $3,312 |
| 84070 | $2,017 | $2,175 | $2,530 | $2,776 | $3,025 |
| 84084 | $2,718 | $2,718 | $2,718 | $2,718 | $2,718 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | September 15 |
| Tax Bill | |
| Issued | October 1 |
Links | |
|---|---|
| Salt Lake Tax Assessor | |
| Phone | (385) 468-7200 |
| Website | slco.org |
| propertytaxappeals@slco.org | |