Corinne, Utah Property Taxes
The median property tax rate in Corinne, Utah is 0.51%, considerably lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Corinne, the typical annual property tax bill reaches $1,802, which is significantly below the national median of $2,690. Property taxes in Corinne are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Corinne'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 Corinne or another part of Box Elder County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Corinne, 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 Corinne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Corinne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Corinne 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 Corinne, Utah
Property taxes in Corinne, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Corinne is 0.51%, which is lower than the U.S. national median of 0.99%. Local government entities within Corinne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Corinne 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 Corinne's effective property tax rate to other counties in Utah and the national median. For comparison, the zip code 84307 has both the highest and lowest median property tax rate of 0.51%. Understanding how these cities compare with Corinne provides valuable insights into the varying tax landscape across Box Elder County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Corinne Tax Rate
0.51%
Average Box Elder County Tax Rate
0.49%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Corinne, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84307 | 0.36% | 0.46% | 0.51% | 0.55% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Corinne, Utah
In Corinne, 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 Box Elder 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 Corinne, 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 Corinne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 84307 has the highest and lowest median tax bill, both at $1,802.
Average Corinne Assessed Value
$352,545
Average Box Elder County Assessed Value
$420,318
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Corinne, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84307 | $227,245 | $289,267 | $352,545 | $469,277 | $654,521 |
Source: Ownwell
Property Tax Bills Across Corinne, Utah
In Corinne, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. For homeowners in Corinne, Box Elder County, property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is approximately $1,400, while at the 75th percentile, it rises to about $2,229. At the 90th percentile, homeowners might see tax bills as high as $2,820. These tax bills are influenced by several factors, including the home's assessed value, the local tax rate, and any applicable exemptions or deductions. With a median home price of $352,545, it's essential for homeowners to understand how these elements contribute to their overall tax liability. While the national median property tax rate is 0.99%, homeowners in Corinne should be aware of their specific rates and how they compare to this national benchmark. This understanding helps homeowners plan their finances and anticipate their annual tax obligations.
Average Corinne Tax Bill
$1,802
Average Box Elder County Tax Bill
$1,988
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Corinne, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84307 | $1,098 | $1,400 | $1,802 | $2,229 | $2,820 |
Source: Ownwell