Draper, Utah Property Taxes
The median property tax rate in Draper, UT is 0.60%, which is higher than the Utah state median of 0.55% but lower than the national median of 0.99%. With the median home value in Draper, the typical annual property tax bill reaches $605, significantly below the national median of $2,690. Property taxes in Draper are calculated based on the tax assessed value, which usually 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
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Draper is 0.60%, which is 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 zip code 84020 has the highest median property tax rate of 0.60%, while the same zip code has the lowest median tax rate of 0.60%. Understanding how these cities compare with Draper 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 Draper Tax Rate
0.60%
Average Washington County Tax Rate
0.40%
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 | 0.55% | 0.60% | 0.60% | 0.60% | 0.60% |
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 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 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. Being aware of these valuation processes in Draper helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Draper are both $605, found in zip code 84020.
Average Draper Assessed Value
$100,000
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 Draper, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84020 | $100,000 | $100,000 | $100,000 | $150,000 | $170,500 |
Source: Ownwell
Property Tax Bills Across Draper, Utah
In Draper, Utah, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local county assessors who evaluate the property's market value and apply a specific assessment ratio. For Draper, located in Washington County, the median home price is $100,000. The property tax rate in Draper aligns with the national median property tax rate of 0.99%, resulting in a median tax bill of $605. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For instance, the tax bill for homes in the 25th, 75th, and 90th percentiles all stand at $605, indicating a consistent rate across different property values. This uniformity suggests a stable and predictable tax environment for homeowners. Understanding how property taxes are calculated helps homeowners anticipate their annual financial obligations and plan accordingly. This predictability can be beneficial for budgeting and long-term financial planning.
Average Draper Tax Bill
$605
Average Washington County Tax Bill
$1,953
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 | $605 | $605 | $605 | $605 | $605 |
Source: Ownwell