Price, Carbon County, Utah Property Taxes
The median property tax rate in Price, Utah is 0.62%, slightly higher than the state median of 0.55% but still below the national median of 0.99%. With the median home value in Price at $229,013, the typical annual property tax bill amounts to $1,439, which is less than the national median of $2,690. Property taxes in Price are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Price'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 Price 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
Price, Carbon County, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,420
$1,318
Ownwell’s PRICE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PRICE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PRICE 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 Price, Carbon County, Utah
Property taxes in Price, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Price is 0.62%, lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Price set these rates annually, and they can vary significantly across different neighborhoods. Each year, Price 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 Price's effective property tax rate to other counties in Utah and the national median. For comparison, the 84501 zip code has the highest median property tax rate of 0.62%, while the 84501 zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Price provides valuable insights into the varying tax landscape across Carbon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Price Tax Rate
0.62%
Average Carbon County Tax Rate
0.64%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Price, Carbon County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84501 | 0.62% | 0.62% | 0.62% | 0.68% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Price, Carbon County, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Price, Carbon County, Utah. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the local 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 Price, 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 Price helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Carbon County is $1439 in the 84501 zip code, while the lowest median tax bill is also $1439 in the same zip code.
Property Tax Assessment Values Across Price, Carbon County, Utah
Source: Ownwell
$77,706
$153,360
$229,013
Average Price Assessed Value
$229,013
Average Carbon County Assessed Value
$103,550
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Price, Carbon County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84501 | $106,821 | $169,542 | $229,013 | $246,639 | $296,727 |
Source: Ownwell
Property Tax Bills Across Price, Carbon County, Utah
In Price, located in Carbon County, UT, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Price is $229,013. Homeowners can expect their tax bills to vary depending on the assessed value of their property and the local tax rate. For instance, the 25th percentile tax bill is $1,252, while the 75th percentile reaches $1,648. At the 90th percentile, the tax bill can soar to $3,018. Several factors influence the final tax bill, including property location, size, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, homeowners in Price experience relatively moderate property tax bills. Understanding these factors can help homeowners better anticipate their annual expenses and plan accordingly. The highest and lowest median tax bills in Carbon County are both $1,439, indicating a relatively consistent property tax landscape within the area.
Average Price Tax Bill
$1,439
Average Carbon County Tax Bill
$661
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Price, Carbon County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84501 | $680 | $1,252 | $1,439 | $1,648 | $3,018 |
Source: Ownwell