Spanish Fork, Utah Property Taxes
The median property tax rate in Spanish Fork, UT is 0.53%, slightly lower than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $449,400 in Spanish Fork, the typical annual property tax bill is around $2,378, which is below the national median of $2,690. Property taxes in Spanish Fork are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Spanish Fork'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 Spanish 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
Spanish Fork, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$2,382
Ownwell’s Spanish Fork Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spanish Fork with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spanish 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 Spanish Fork, Utah
Property taxes in Spanish Fork, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spanish Fork is 0.53%, which is significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Spanish Fork set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spanish 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 Spanish Fork's effective property tax rate to other regions in Utah and the national median. For comparison, the zip code 84660 has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these areas compare with Spanish 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 Spanish Fork Tax Rate
0.53%
Average Utah County Tax Rate
0.47%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spanish Fork, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84660 | 0.53% | 0.53% | 0.53% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Spanish Fork, Utah
In Spanish 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 Utah County Assessor's Office 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. 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 Spanish Fork helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 84660, with a median tax bill of $2,378.
Average Spanish Fork Assessed Value
$449,400
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 Spanish Fork, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84660 | $326,700 | $376,500 | $449,400 | $567,800 | $713,020 |
Source: Ownwell
Property Tax Bills Across Spanish Fork, Utah
In Spanish Fork, property tax bills are calculated based on the assessed value of your home, which is determined by the local county assessor. The median home price in Spanish Fork is $449,400. Property taxes are influenced by various factors including the assessed value of the property, the local tax rate, and any applicable exemptions or deductions. The tax rate in Utah County, where Spanish Fork is located, varies but is generally lower than the national median property tax rate of 0.99%. Homeowners in Spanish Fork can expect their property tax bills to fall within a range, with the 25th percentile tax bill at $1,994 and the 75th percentile tax bill at $2,985. At the higher end, the 90th percentile tax bill is $3,631. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Understanding these factors can help homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Spanish Fork Tax Bill
$2,378
Average Utah County Tax Bill
$2,288
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Spanish Fork, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84660 | $1,725 | $1,994 | $2,378 | $2,985 | $3,631 |
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 |