Koosharem, Utah Property Taxes
The median property tax rate in Koosharem, Utah is 0.47%, considerably lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Koosharem at $221,846, the typical annual property tax bill reaches $1,312, which is significantly below the national median of $2,690. Property taxes in Koosharem 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 Koosharem'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 Koosharem or another part of Sevier County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Koosharem, 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 Koosharem Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Koosharem with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Koosharem 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 Koosharem, Utah
Property taxes in Koosharem, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Koosharem is 0.47%, which is lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Koosharem set these rates annually, and they can vary significantly across different neighborhoods. Each year, Koosharem 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 Koosharem's effective property tax rate to other counties in Utah and the national median. For comparison, the zip code 84744 has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Koosharem 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 Koosharem Tax Rate
0.47%
Average Sevier County Tax Rate
0.55%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Koosharem, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84744 | 0.47% | 0.47% | 0.47% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Koosharem, Utah
In Koosharem, 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 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 Koosharem, 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 Koosharem helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 84744 has both the highest and lowest median tax bill at $1,312.
Average Koosharem Assessed Value
$221,846
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 Koosharem, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84744 | $119,491 | $161,661 | $221,846 | $303,032 | $391,414 |
Source: Ownwell
Property Tax Bills Across Koosharem, Utah
Property tax bills in Koosharem, Sevier County, UT, are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For context, the median home price in Koosharem is $221,846. The tax bills in this area can vary significantly, with the 25th percentile tax bill at $898 and the 75th percentile at $1675. Homeowners at the 90th percentile can expect to pay around $2450 annually. These tax bills are influenced by various factors, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Koosharem's property tax rates can be considered relatively moderate. This range of tax bills impacts homeowners by affecting their annual financial planning and overall cost of homeownership. Understanding these components helps homeowners anticipate their property tax obligations more accurately.
Average Koosharem Tax Bill
$1,312
Average Sevier County Tax Bill
$1,616
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Koosharem, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84744 | $603 | $898 | $1,312 | $1,675 | $2,450 |
Source: Ownwell