American Fork, Utah Property Taxes
The median property tax rate in American Fork, UT is 0.47%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $457,100, the typical annual property tax bill in American Fork amounts to $2,128, which is below the national median of $2,690. Property taxes here 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 American Fork's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of American Fork 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
American Fork, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$2,148
Ownwell’s American Fork Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in American Fork with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in American Fork 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 American Fork, Utah
Property taxes in American Fork, Utah, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in American Fork is 0.47%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within American Fork set these rates annually, and they can vary across different neighborhoods. Each year, American Fork 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 American Fork's effective property tax rate to other counties in Utah and the national median. For comparison, the zip code 84003 has both the highest and lowest median property tax rate of 0.47%, reflecting the uniformity within the area. Understanding how these cities compare with American Fork provides valuable insights into the varying tax landscape across Utah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average American Fork Tax Rate
0.47%
Average Utah County Tax Rate
0.47%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across American Fork, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84003 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across American Fork, Utah
In American Fork, 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 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 American Fork, 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 American Fork helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $457,100, with the highest and lowest median tax bills both being $2,128 in the 84003 zip code.
Average American Fork Assessed Value
$457,100
Average Utah County Assessed Value
$478,000
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across American Fork, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84003 | $341,200 | $401,300 | $457,100 | $553,050 | $729,940 |
Source: Ownwell
Property Tax Bills Across American Fork, Utah
In American Fork, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in American Fork, the median home price stands at $457,100. Property tax bills can vary significantly, with the 25th percentile at $1,855 and the 75th percentile at $2,580, indicating a range in tax burdens. The 90th percentile tax bill goes up to $3,411, showing higher-end properties face steeper taxes. The highest and lowest median tax bills in the area are both $2,128, highlighting consistency within the zip code 84003. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners should stay informed about their property's assessed value and any changes in tax rates to manage their financial planning effectively.
Average American Fork Tax Bill
$2,128
Average Utah County Tax Bill
$2,288
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across American Fork, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84003 | $1,552 | $1,855 | $2,128 | $2,580 | $3,411 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | September 15 |
| Tax Bill | |
| Issued | October 1 |
Links | |
|---|---|
| Utah Tax Assessor | |
| Phone | (801) 851-8109 |
| Website | www.utahcounty.gov |