Castle Valley, Utah Property Taxes
The median property tax rate in Castle Valley, UT is 0.65%, slightly higher than the state median of 0.55% but lower than the national median of 0.99%. With a median home value in Castle Valley of $708,974, the typical annual property tax bill amounts to $5,669, significantly surpassing the national median of $2,690. Property taxes in Castle Valley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Castle Valley'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 Castle Valley 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
Castle Valley, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$4,608
Ownwell’s Castle Valley Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate annual property taxes in Castle Valley. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Castle Valley to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Castle Valley, Utah
Property taxes in Castle Valley, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Castle Valley is 0.65%, which is lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Castle Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castle Valley 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 Castle Valley's effective property tax rate to other areas in Utah and the national median. For comparison, the zip code 84532 in Grand County has the same median property tax rate of 0.65%. Understanding how these areas compare with Castle Valley provides valuable insights into the varying tax landscape across Grand County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castle Valley Tax Rate
0.65%
Average Grand County Tax Rate
0.92%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castle Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84532 | 0.44% | 0.52% | 0.65% | 0.78% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Castle Valley, Utah
In Castle Valley, 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 Grand County Assessor's Office 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 Castle Valley, 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 Castle Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Castle Valley is $708,974, with annual tax bills ranging from $3,411 at the 25th percentile to $9,281 at the 90th percentile. The zip code 84532 has both the highest and lowest median tax bill, recorded at $5,669.
Average Castle Valley Assessed Value
$708,974
Average Grand County Assessed Value
$475,396
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castle Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84532 | $380,648 | $503,770 | $708,974 | $914,178 | $1,037,300 |
Source: Ownwell
Property Tax Bills Across Castle Valley, Utah
In Castle Valley, located in Grand County, UT, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and reflects a percentage of the market value of the home. For homeowners, several factors come into play, including the median home price, which is currently $708,974. Property taxes in Castle Valley are influenced by the local tax rate and the value of the property. For example, the tax bill at the 25th percentile is around $3,411, while at the 75th percentile, it reaches approximately $7,926. Those in the 90th percentile can expect a tax bill of about $9,281. These figures illustrate the range of property tax burdens faced by homeowners, which can significantly impact their finances. Compared to the national median property tax rate of 0.99%, the tax rates in Castle Valley reflect the unique property values and local tax policies, ultimately shaping the financial obligations of its residents.
Average Castle Valley Tax Bill
$5,669
Average Grand County Tax Bill
$4,126
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Castle Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84532 | $2,056 | $3,411 | $5,669 | $7,926 | $9,281 |
Source: Ownwell