Neola, Utah Property Taxes
The median property tax rate in Neola, Utah is 0.96%, slightly below the national median of 0.99% but significantly higher than the Utah state median of 0.55%. With the median home value in Neola, the typical annual property tax bill reaches $1,052, which is below the national median of $2,690. Property taxes in Neola 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 Neola'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 Neola 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
Neola, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,050
Ownwell’s Neola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Neola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Neola 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 Uintah County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Neola, Utah
Property taxes in Neola, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Neola is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Neola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Neola 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 Neola's effective property tax rate to other counties in Utah and the national median. For comparison, the zip code 84053 has the highest median property tax rate of 0.96%, while the same zip code also has the lowest median tax rate of 0.96%. Understanding how these cities compare with Neola provides valuable insights into the varying tax landscape across Uintah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Neola Tax Rate
0.96%
Average Uintah County Tax Rate
1.10%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Neola, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84053 | 0.96% | 0.96% | 0.96% | 0.96% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Neola, Utah
In Neola, 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 Uintah 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 Neola, 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 Neola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 84053 has both the highest and lowest median tax bill at $1,052.
Average Neola Assessed Value
$109,420
Average Uintah County Assessed Value
$104,634
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Neola, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84053 | $100,908 | $105,152 | $109,420 | $140,282 | $152,324 |
Source: Ownwell
Property Tax Bills Across Neola, Utah
In Neola, Uintah 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 tax rate to determine the annual tax bill. For example, with a median home price of $109,420, homeowners can expect tax bills to vary. The 25th percentile tax bill is around $1,004, while the 75th percentile reaches $1,376, and the 90th percentile goes up to $1,566. Several factors influence these calculations, including property size, location, and improvements made to the home. Compared to the national median property tax rate of 0.99%, Neola's rates are competitive, offering a relatively affordable tax environment. Homeowners in Neola benefit from these factors, which can result in lower property tax bills compared to other regions. This affordability can make Neola an attractive place for potential homeowners looking for a balance between property value and tax liability.
Average Neola Tax Bill
$1,052
Average Uintah County Tax Bill
$1,143
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Neola, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84053 | $965 | $1,004 | $1,052 | $1,376 | $1,566 |
Source: Ownwell