Thatcher, Utah Property Taxes
The median property tax rate in Thatcher, UT is 0.42%, significantly lower than both the national median of 0.99% and Utah's state median of 0.55%. With the median home value in Thatcher at $433,757, the typical annual property tax bill amounts to $1,841, which is well below the national median of $2,690. Property taxes in Thatcher are calculated based on the assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Thatcher's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Thatcher or another part of Box Elder County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thatcher, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$1,822
Ownwell’s Thatcher Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thatcher with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thatcher 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 Thatcher, Utah
Property taxes in Thatcher, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thatcher is 0.42%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Thatcher set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thatcher 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 Thatcher's effective property tax rate to other counties in Utah and the national median. For comparison, the zip code 84337 has the highest median property tax rate of 0.42%, while the same zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Thatcher 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 Thatcher Tax Rate
0.42%
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 Thatcher, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84337 | 0.42% | 0.42% | 0.42% | 0.42% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Thatcher, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Thatcher, Utah. 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 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. 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 Thatcher helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Thatcher is $1,841, with the zip code 84337 having both the highest and lowest median tax bills at $1,841.
Average Thatcher Assessed Value
$433,757
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 Thatcher, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84337 | $433,757 | $433,757 | $433,757 | $433,757 | $433,757 |
Source: Ownwell
Property Tax Bills Across Thatcher, Utah
In Thatcher, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property, and this figure is then multiplied by the local tax rate to calculate your annual tax bill. For instance, the median home price in Thatcher is $433,757, and the median property tax bill is $1,841, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the assessed value, including property location, size, and any improvements made to the home. The consistent tax bill of $1,841 across various percentiles indicates a relatively uniform tax rate in the area. Homeowners in Thatcher benefit from this predictable tax structure, which can make financial planning easier. However, any changes in property value or local tax rates can affect the annual tax bill, making it essential for homeowners to stay informed about local property tax policies.
Average Thatcher Tax Bill
$1,841
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 Thatcher, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84337 | $1,841 | $1,841 | $1,841 | $1,841 | $1,841 |
Source: Ownwell