Provo, Utah Property Taxes
The median property tax rate in Provo, UT is 0.57%, slightly higher than the state median of 0.55% but lower than the national median of 0.99%. With a median home value of $419,200, the typical annual property tax bill in Provo reaches $2,376, which is below the national median of $2,690. Property taxes in Provo are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Provo'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 Provo 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
Provo, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$2,389
Ownwell’s Provo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Provo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Provo 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 Provo, Utah
Property taxes in Provo, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Provo is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Provo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Provo 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 Provo's effective property tax rate to other counties in Utah and the national median. For comparison, the 84604 zip code has the highest median property tax rate of 0.57%, while the 84601 zip code has the lowest median tax rate of 0.57%. Understanding how these cities compare with Provo 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 Provo Tax Rate
0.57%
Average Utah County Tax Rate
0.47%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Provo, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84601 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
| 84604 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
| 84606 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Provo, Utah
In Provo, 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 Utah County Assessor 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 Provo, 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 Provo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Provo's highest median tax bill is $2,840 in the 84604 zip code, while the lowest median tax bill is $2,189 in the 84606 zip code.
Average Provo Assessed Value
$419,200
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 Provo, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84601 | $268,600 | $319,750 | $394,000 | $453,500 | $549,040 |
| 84604 | $312,000 | $388,300 | $503,700 | $679,500 | $946,700 |
| 84606 | $294,100 | $326,700 | $383,000 | $451,225 | $537,830 |
Source: Ownwell
Property Tax Bills Across Provo, Utah
In Provo, property tax bills are calculated based on the assessed value of a home, which is determined by the Utah County Assessor's Office. This assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. Various factors, such as location, property size, and improvements, influence this valuation. Homeowners in Provo can expect property tax bills to range significantly. For instance, the 25th percentile tax bill is around $1,922, while the 75th percentile reaches approximately $3,058. At the higher end, the 90th percentile tax bill can be as much as $4,165. Notably, the highest median tax bill in Provo is found in the 84604 zip code, at $2,840, whereas the lowest median tax bill is in the 84606 zip code, at $2,189. Comparatively, Provo's property tax rates are competitive, considering the national median property tax rate is 0.99%. This system ensures that homeowners contribute fairly to local services based on their property's value, impacting their annual financial planning.
Average Provo Tax Bill
$2,376
Average Utah County Tax Bill
$2,288
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Provo, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84601 | $1,474 | $1,794 | $2,234 | $2,575 | $3,152 |
| 84604 | $1,680 | $2,155 | $2,840 | $3,880 | $5,511 |
| 84606 | $1,650 | $1,850 | $2,189 | $2,591 | $3,151 |
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 |