Elsinore, Utah Property Taxes
The median property tax rate in Elsinore, Utah, is 0.50%, considerably lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Elsinore at $220,752, the typical annual property tax bill reaches $1,127, well below the national median of $2,690. Property taxes in Elsinore are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Elsinore'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 Elsinore 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
Elsinore, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$1,104
Ownwell’s Elsinore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elsinore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elsinore 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 Sevier County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Elsinore, Utah
Property taxes in Elsinore, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elsinore is 0.50%, which is significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Elsinore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elsinore 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 Elsinore's effective property tax rate to other counties in Utah and the national median. For comparison, the 84724 zip code has the highest median property tax rate of 0.50%, while the 84724 zip code also has the lowest median tax rate of 0.50%. Understanding how these cities compare with Elsinore provides valuable insights into the varying tax landscape across Sevier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elsinore Tax Rate
0.50%
Average Sevier County Tax Rate
0.55%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elsinore, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84724 | 0.47% | 0.50% | 0.50% | 0.53% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Elsinore, Utah
In Elsinore, 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 Sevier 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 Elsinore, 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 Elsinore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $1,127 in the zip code 84724.
Average Elsinore Assessed Value
$220,752
Average Sevier County Assessed Value
$296,622
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elsinore, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84724 | $50,737 | $149,942 | $220,752 | $312,064 | $407,949 |
Source: Ownwell
Property Tax Bills Across Elsinore, Utah
In Elsinore, Sevier County, UT, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value is a percentage of the property's market value. The tax rate is then applied to the assessed value to compute the tax bill. Factors such as local government budgets, school funding, and public services influence the tax rate, making it crucial for homeowners to understand how these elements impact their annual dues. For a home with a median price of $220,752, property tax bills can vary widely. For instance, homeowners at the 25th percentile pay around $716, while those at the 75th percentile face bills of about $1,664. At the 90th percentile, tax bills can reach up to $2,060. These variations significantly affect homeowners' financial planning, emphasizing the importance of accurate property assessments and awareness of local fiscal policies. In Sevier County, the median tax bill is notably consistent, with the highest and lowest median tax bills both at $1,127, reflecting a relatively stable tax environment.
Average Elsinore Tax Bill
$1,127
Average Sevier County Tax Bill
$1,616
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Elsinore, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84724 | $241 | $716 | $1,127 | $1,664 | $2,060 |
Source: Ownwell