Cedar Valley, Utah Property Taxes
The median property tax rate in Cedar Valley, UT is 0.40%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Cedar Valley at $444,700, the typical annual property tax bill amounts to $1,728, which is well below the national median of $2,690. Property taxes in Cedar Valley are determined based on the tax assessed value, which is generally less than the market value due to various exemptions like the primary residence and agricultural exemptions. Gaining a comprehensive understanding of Cedar Valley's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're residing in Cedar Valley or investing in the area, familiarizing yourself with the local property tax system can provide significant financial benefits for homeowners and real estate investors alike.
Last Updated June 14, 2024
Cedar Valley, 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 Cedar Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedar Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedar Valley 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 Cedar Valley, Utah
Property taxes in Cedar 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 Cedar Valley is 0.40%, significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Cedar Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedar 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 Cedar Valley's effective property tax rate to other counties in Utah and the national median. For comparison, the highest median property tax rate in Utah is found in zip code 84003 with a rate of 0.55%, while the lowest median tax rate is in zip code 84062 at 0.35%. Understanding how these cities compare with Cedar Valley 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 Cedar Valley Tax Rate
0.40%
Average Utah County Tax Rate
0.47%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84013 | 0.29% | 0.40% | 0.40% | 0.41% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Valley, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cedar Valley, Utah. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. For tax purposes, this value is estimated by the Utah County Assessor's Office. 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 Cedar 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 Cedar Valley is $444,700, with tax bills ranging from $1,418 at the 25th percentile to $3,105 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cedar Valley Assessed Value
$444,700
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 Cedar Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84013 | $281,800 | $361,125 | $444,700 | $621,100 | $787,000 |
Source: Ownwell
Property Tax Bills Across Cedar Valley, Utah
In Cedar Valley, Utah County, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Cedar Valley is $444,700. To determine the tax bill, the local tax rate is applied to the assessed value. For instance, residents may see tax bills ranging from the 25th percentile at $1,418 to the 75th percentile at $2,388, and even up to the 90th percentile at $3,105. These variations depend on factors like property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Cedar Valley's rates reflect the local economic landscape and funding needs for public services. Homeowners in Cedar Valley should be aware of these factors as they significantly impact annual tax obligations. Understanding how property taxes are calculated helps homeowners budget effectively and take advantage of any available exemptions to potentially lower their tax bills.
Average Cedar Valley Tax Bill
$1,728
Average Utah County Tax Bill
$2,288
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84013 | $1,112 | $1,418 | $1,728 | $2,388 | $3,105 |
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 |