New Harmony, Utah Property Taxes
The median property tax rate in New Harmony, UT is 0.38%, significantly lower than both the national median of 0.99% and Utah's state median of 0.55%. With a median home value of $673,050, the typical annual property tax bill in New Harmony reaches $2,504, which is below the national median of $2,690. Property taxes in New Harmony 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 New Harmony'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 New Harmony 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
New Harmony, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$2,558
Ownwell’s New Harmony Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Harmony with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Harmony 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 New Harmony, Utah
Property taxes in New Harmony, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Harmony is 0.38%, significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within New Harmony set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Harmony 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. Understanding how these cities compare with New Harmony 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 New Harmony Tax Rate
0.38%
Average Washington County Tax Rate
0.40%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Harmony, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84757 | 0.30% | 0.36% | 0.38% | 0.43% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across New Harmony, Utah
In New Harmony, 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 Washington County 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 New Harmony, 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 New Harmony helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $2504 in the 84757 zip code, while the lowest median tax bill is also $2504 in the same zip code.
Average New Harmony Assessed Value
$673,050
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 New Harmony, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84757 | $277,600 | $445,625 | $673,050 | $861,475 | $1,084,800 |
Source: Ownwell
Property Tax Bills Across New Harmony, Utah
In New Harmony, located in Washington County, UT, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by county assessors who evaluate the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $673,050, the tax bills in New Harmony can vary significantly. Homeowners at the 25th percentile pay around $1,745 annually, while those at the 75th percentile face bills of approximately $3,398. At the 90th percentile, the tax bill can reach up to $4,475. These tax bills can significantly impact homeowners, as they represent a substantial yearly expense. Compared to the national median property tax rate of 0.99%, New Harmony's rates are influenced by local assessments and market conditions, leading to varying tax obligations for residents. Understanding these factors is crucial for homeowners to manage their finances effectively.
Average New Harmony Tax Bill
$2,504
Average Washington County Tax Bill
$1,953
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across New Harmony, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84757 | $1,115 | $1,745 | $2,504 | $3,398 | $4,475 |
Source: Ownwell