Ophir, Utah Property Taxes
The median property tax rate in Ophir, UT is 0.89%, which is lower than the national median of 0.99% but significantly higher than the Utah state median of 0.55%. With the median home value in Ophir at $359,152, the typical annual property tax bill reaches $3,192, surpassing the national median of $2,690. Property taxes in Ophir 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 Ophir'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 Ophir 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
Ophir, 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 Ophir Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ophir with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ophir to provide an estimate of 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 Ophir, Utah
Property taxes in Ophir, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ophir is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Ophir set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ophir 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 Ophir's effective property tax rate to other areas in Tooele County and the national median. For comparison, the zip code 84071 has both the highest and lowest median property tax rate of 0.89%. Understanding how these areas compare with Ophir provides valuable insights into the varying tax landscape across Tooele County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ophir Tax Rate
0.89%
Average Tooele County Tax Rate
0.59%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ophir, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84071 | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Ophir, Utah
In Ophir, 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 Tooele 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 Ophir, 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 Ophir helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ophir are both $3,192, found in zip code 84071.
Average Ophir Assessed Value
$359,152
Average Tooele County Assessed Value
$428,538
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ophir, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84071 | $359,152 | $359,152 | $359,152 | $359,152 | $359,152 |
Source: Ownwell
Property Tax Bills Across Ophir, Utah
In Ophir, located in Tooele County, UT, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, reflecting what the property would likely sell for in the current market. Once the assessed value is established, the property tax rate is applied to calculate the annual tax bill. For homeowners in Ophir, the median home price stands at $359,152, resulting in a median property tax bill of $3,192. This figure is significantly higher than the national median property tax rate of 0.99%, indicating a relatively high property tax burden for residents. Factors influencing the tax bill include local government budgets, school district funding needs, and public service requirements. Homeowners in Ophir must consider these taxes as a substantial part of their annual expenses, impacting their overall cost of living and financial planning. The consistent tax bill, regardless of home value percentiles, underscores the uniformity in tax assessment within the region.
Average Ophir Tax Bill
$3,192
Average Tooele County Tax Bill
$2,475
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Ophir, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84071 | $3,192 | $3,192 | $3,192 | $3,192 | $3,192 |
Source: Ownwell