Salt Lake City, Utah Property Taxes
The median property tax rate in Salt Lake City, UT is 0.12%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Salt Lake City at $244,400, the typical annual property tax bill amounts to $283, which is far below the national median of $2,690. Property taxes in Salt Lake City are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Salt Lake City'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 Salt Lake City 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
Salt Lake City, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.12%
Estimate Property Tax Bill
$293
Ownwell’s Salt Lake City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Salt Lake City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Salt Lake City 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 Salt Lake City, Utah
Property taxes in Salt Lake City, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Salt Lake City is 0.12%, significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Salt Lake City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salt Lake City 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 Salt Lake City's effective property tax rate to other counties in Utah and the national median. Understanding how these cities compare with Salt Lake City 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 Salt Lake City Tax Rate
0.12%
Average Utah County Tax Rate
0.47%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Salt Lake City, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84111 | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% |
Source: Ownwell
Property Tax Assessment Values Across Salt Lake City, Utah
In Salt Lake City, 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 local 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 Salt Lake City, 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 Salt Lake City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the city are both $283, found in the 84111 zip code.
Average Salt Lake City Assessed Value
$244,400
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 Salt Lake City, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84111 | $244,400 | $244,400 | $244,400 | $244,400 | $244,400 |
Source: Ownwell
Property Tax Bills Across Salt Lake City, Utah
In Salt Lake City, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $244,400, the tax bill for homeowners in Salt Lake City typically falls around $283, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, condition, and any applicable exemptions or deductions. Homeowners in Salt Lake City benefit from relatively low property taxes, which can make homeownership more affordable compared to other regions. The consistency in tax bills, as evidenced by the 25th, 75th, and 90th percentiles all being $283, indicates a stable and predictable tax environment for residents. This stability helps homeowners budget more effectively and can contribute to the overall appeal of living in Salt Lake City.
Average Salt Lake City Tax Bill
$283
Average Utah County Tax Bill
$2,288
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Salt Lake City, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84111 | $283 | $283 | $283 | $283 | $283 |
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 |