Skull Valley, Utah Property Taxes
The median property tax rate in Skull Valley, UT is 0.48%, considerably lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Skull Valley at $366,975, the typical annual property tax bill reaches $1,679, which is also below the national median of $2,690. Property taxes in Skull Valley are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Skull Valley'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 Skull Valley 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
Skull Valley, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$1,761
Ownwell’s Skull Valley Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Skull Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Skull Valley to provide an estimate of your property tax bill. This valuable 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 Skull Valley, Utah
Property taxes in Skull Valley, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Skull Valley is 0.48%, which is lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Skull Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Skull Valley 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 Skull Valley's effective property tax rate to other counties in Utah and the national median. For comparison, the zip code 84029 has both the highest and lowest median property tax rate of 0.48%. Understanding how these areas compare with Skull Valley 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 Skull Valley Tax Rate
0.48%
Average Tooele County Tax Rate
0.59%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Skull Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84029 | 0.42% | 0.44% | 0.48% | 0.52% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Skull Valley, Utah
In Skull Valley, 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 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 Skull Valley, 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. The median home price in Skull Valley is $366,975, with tax bills ranging from $1,583 at the 25th percentile to $2,943 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 84029, with a value of $1,679. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Skull Valley Assessed Value
$366,975
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 Skull Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84029 | $341,012 | $342,906 | $366,975 | $453,033 | $566,509 |
Source: Ownwell
Property Tax Bills Across Skull Valley, Utah
In Skull Valley, 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. This assessed value typically represents a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including the property's location, size, and any applicable exemptions or deductions. For example, in Skull Valley, homeowners in the 25th percentile pay around $1,583 annually, while those in the 75th percentile see bills closer to $2,185. The highest tax bills, around the 90th percentile, can reach up to $2,943. These property taxes fund essential local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Skull Valley's rates are competitive, making it an attractive location for homeowners looking for a balance between quality services and reasonable tax bills.
Average Skull Valley Tax Bill
$1,679
Average Tooele County Tax Bill
$2,475
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Skull Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84029 | $1,562 | $1,583 | $1,679 | $2,185 | $2,943 |
Source: Ownwell