Millcreek, Utah Property Taxes
The median property tax rate in Millcreek, UT is 0.65%, which is lower than the national median of 0.99% but higher than Utah's state median of 0.55%. With the median home value in Millcreek at $493,200, the typical annual property tax bill reaches $3,191, surpassing the national median of $2,690. Property taxes in Millcreek are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Millcreek'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 Millcreek 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
Millcreek, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$3,206
Ownwell’s Millcreek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millcreek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millcreek 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 Millcreek, Utah
Property taxes in Millcreek, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millcreek is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Millcreek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millcreek 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 Millcreek's effective property tax rate to other areas in Salt Lake County and the national median. For comparison, the 84106 zip code has the highest median property tax rate of 0.65%, while the 84124 zip code has the lowest median tax rate of 0.65%. Understanding how these areas compare with Millcreek 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 Millcreek Tax Rate
0.65%
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 Millcreek, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84106 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
| 84109 | 0.26% | 0.52% | 0.65% | 0.65% | 0.65% |
| 84117 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
| 84124 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Millcreek, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Millcreek, 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 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. 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. For example, zip code 84109 has the highest median tax bill at $6,140, while zip code 84117 has the lowest at $1,910. Being aware of these valuation processes in Millcreek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Millcreek Assessed Value
$493,200
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 Millcreek, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84106 | $388,840 | $440,800 | $505,400 | $693,200 | $880,060 |
| 84109 | $781,720 | $937,150 | $957,300 | $993,050 | $1,037,740 |
| 84117 | $241,550 | $273,975 | $295,200 | $442,475 | $452,500 |
| 84124 | $793,800 | $793,800 | $793,800 | $793,800 | $793,800 |
Source: Ownwell
Property Tax Bills Across Millcreek, Utah
In Millcreek, Salt Lake 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 property tax rate to determine the tax bill. For instance, with a median home price of $493,200, homeowners can expect varying tax bills depending on specific factors like the property's location and any applicable exemptions. Several factors influence the tax bill, including the property's assessed value, the local tax rate, and any exemptions for which the homeowner may qualify. For example, tax bills in Millcreek range significantly, with the 25th percentile at $2,730, the 75th percentile at $4,485, and the 90th percentile reaching up to $6,140. The highest median tax bill is found in zip code 84109 at $6,140, while the lowest is in zip code 84117 at $1,910. These property taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the community and homeowners' financial planning.
Average Millcreek Tax Bill
$3,191
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 Millcreek, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84106 | $2,425 | $2,860 | $3,322 | $4,485 | $5,744 |
| 84109 | $2,501 | $4,953 | $6,140 | $6,213 | $6,483 |
| 84117 | $1,563 | $1,773 | $1,910 | $2,863 | $2,928 |
| 84124 | $5,136 | $5,136 | $5,136 | $5,136 | $5,136 |
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 | |