Diamond Valley, Utah Property Taxes
The median property tax rate in Diamond Valley, Utah is 0.36%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $397,200 in Diamond Valley, the typical annual property tax bill amounts to $2,748, which is slightly below the national median of $2,690. Property taxes in Diamond Valley 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 Diamond Valley'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 Diamond Valley or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Diamond Valley, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$1,430
Ownwell’s Diamond Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Diamond Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Diamond 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 Diamond Valley, Utah
Property taxes in Diamond Valley, Utah, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Diamond Valley is 0.36%, which is significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Diamond Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Diamond 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 Diamond 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 0.75%, while the lowest median tax rate is 0.20%. Understanding how these cities compare with Diamond Valley provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Diamond Valley Tax Rate
0.36%
Average Washington County Tax Rate
0.40%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Diamond Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84770 | 0.36% | 0.36% | 0.36% | 0.36% | 0.36% |
Source: Ownwell
Property Tax Assessment Values Across Diamond Valley, Utah
In Diamond Valley, 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 Washington County 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 Diamond 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. Being aware of these valuation processes in Diamond Valley 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 area are both $2,748, found in the 84770 zip code.
Average Diamond Valley Assessed Value
$397,200
Average Washington County Assessed Value
$457,600
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Diamond Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84770 | $103,920 | $213,900 | $397,200 | $580,500 | $690,480 |
Source: Ownwell
Property Tax Bills Across Diamond Valley, Utah
In Diamond Valley, Washington County, UT, property tax bills are calculated based on the assessed value of the property and the applicable tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. Homeowners in Diamond Valley typically see a median property tax bill of $2,748, which is higher than the national median property tax rate of 0.99%. For a median home price of $397,200, this tax bill can be a significant expense. Understanding how property taxes are determined can help homeowners plan their finances better. High property taxes can impact the affordability of owning a home, potentially affecting decisions on buying or selling property in the area. Accurate assessments and awareness of tax obligations are crucial for residents to manage their financial responsibilities effectively.
Average Diamond Valley Tax Bill
$2,748
Average Washington County Tax Bill
$1,953
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Diamond Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84770 | $2,748 | $2,748 | $2,748 | $2,748 | $2,748 |
Source: Ownwell