Draper, Utah Property Taxes
The median property tax rate in Draper, UT is 0.49%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $721,200 in Draper, the typical annual property tax bill amounts to $3,486, which surpasses the national median of $2,690. Property taxes in Draper are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Draper'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 Draper 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
Draper, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$3,534
Ownwell’s Draper Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Draper with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Draper 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 Draper, Utah
Property taxes in Draper, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Draper is 0.49%, which is significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Draper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Draper 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 Draper's effective property tax rate to other counties in Utah and the national median. For comparison, the 84020 zip code has both the highest and lowest median property tax rate of 0.49%. Understanding how these cities compare with Draper 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 Draper Tax Rate
0.49%
Average Utah County Tax Rate
0.47%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Draper, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84020 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Draper, Utah
In Draper, 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’s 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 Draper, 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 Draper is $721,200, with tax bills ranging significantly based on assessed values. The highest and lowest median tax bills in Draper are both $3,486, found in the 84020 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Draper Assessed Value
$721,200
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 Draper, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84020 | $467,200 | $554,300 | $721,200 | $899,350 | $1,031,400 |
Source: Ownwell
Property Tax Bills Across Draper, Utah
In Draper, UT, located in Utah County, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, which in Draper, is influenced by factors such as location, property size, and home features. For instance, with a median home price of $721,200, homeowners can expect varying tax bills. The property tax rate in Draper is applied to the assessed value to determine the annual tax bill. For example, homeowners in the 25th percentile might pay around $2,687, while those in the 75th percentile could see bills closer to $4,332. At the 90th percentile, tax bills can reach up to $5,004. These figures highlight the range of property taxes that homeowners might face, depending on their property's assessed value. Comparatively, Draper's property tax bills are influenced by the local tax rate and assessed values, which can differ significantly from the national median property tax rate of 0.99%. This can have a substantial impact on homeowners' annual expenses, making it essential for them to understand their tax obligations.
Average Draper Tax Bill
$3,486
Average Utah County Tax Bill
$2,288
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Draper, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84020 | $2,180 | $2,687 | $3,486 | $4,332 | $5,004 |
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 |