Farr West, Utah Property Taxes
The median property tax rate in Farr West, UT is 0.66%, slightly higher than the Utah state median of 0.55% but lower than the national median of 0.99%. With a median home value of $439,000 in Farr West, the typical annual property tax bill is $2,346, which is below the national median of $2,690. Property taxes in Farr West are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Farr West'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 Farr West 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
Farr West, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$2,897
Ownwell’s Farr West Property Tax Bill Calculator is an indispensable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Farr West with just two key data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Farr West to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities clearly. For those interested in more granular insights, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value is determined by Weber County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Farr West, Utah
Property taxes in Farr West, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Farr West is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Farr West set these rates annually, and they can vary significantly across different neighborhoods. Each year, Farr West 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 Farr West's effective property tax rate to other areas in Weber County and the national median. For comparison, the zip code 84404 has both the highest and lowest median property tax rates in Weber County, each standing at 0.66%. Understanding how these areas compare with Farr West provides valuable insights into the varying tax landscape across Weber County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Farr West Tax Rate
0.66%
Average Weber County Tax Rate
0.64%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Farr West, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84404 | 0.47% | 0.62% | 0.66% | 0.81% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Farr West, Utah
In Farr West, 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 Weber County Assessor 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 Farr West, 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 Farr West 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 $2,346, found in the 84404 zip code.
Average Farr West Assessed Value
$439,000
Average Weber County Assessed Value
$413,000
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Farr West, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84404 | $132,322 | $214,000 | $439,000 | $540,000 | $781,314 |
Source: Ownwell
Property Tax Bills Across Farr West, Utah
In Farr West, located in Weber County, UT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. For example, with a median home price of $439,000, homeowners can expect their property tax bills to vary significantly. The tax bill for the 25th percentile is around $1,494, while those in the 75th percentile face bills closer to $2,914. At the 90th percentile, the tax bill can reach up to $3,489. This range illustrates the variation in property taxes within the city, influenced by the home's assessed value and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Farr West's tax rates can significantly impact homeowners. Higher property taxes can affect disposable income and overall financial planning, making it crucial for homeowners to understand these factors and plan accordingly.
Average Farr West Tax Bill
$2,346
Average Weber County Tax Bill
$2,637
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Farr West, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84404 | $989 | $1,494 | $2,346 | $2,914 | $3,489 |
Source: Ownwell