Kanarraville, Utah Property Taxes
The median property tax rate in Kanarraville, UT is 0.43%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $387,284 in Kanarraville, the typical annual property tax bill is $1,707, which is substantially below the national median of $2,690. Property taxes in Kanarraville 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 Kanarraville'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 Kanarraville or another part of Iron County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kanarraville, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$1,665
Ownwell’s Kanarraville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kanarraville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kanarraville 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 Kanarraville, Utah
Property taxes in Kanarraville, Utah, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kanarraville is 0.43%, which is lower than the U.S. national median of 0.99%. Local government entities within Kanarraville set these rates annually, and they can vary across different neighborhoods. Each year, Kanarraville 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 Kanarraville's effective property tax rate to other areas in Iron County and the national median. For comparison, the zip code 84742 has both the highest and lowest median property tax rate of 0.43%. Understanding how these areas compare with Kanarraville provides valuable insights into the varying tax landscape across Iron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kanarraville Tax Rate
0.43%
Average Iron County Tax Rate
0.74%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kanarraville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84742 | 0.41% | 0.41% | 0.43% | 0.47% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Kanarraville, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kanarraville, 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 Iron County 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 Kanarraville, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Kanarraville are both $1,707, located in the 84742 zip code. These figures provide a benchmark for homeowners to understand their tax obligations better.
Average Kanarraville Assessed Value
$387,284
Average Iron County Assessed Value
$176,312
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kanarraville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84742 | $144,096 | $249,410 | $387,284 | $688,479 | $932,890 |
Source: Ownwell
Property Tax Bills Across Kanarraville, Utah
Property tax bills in Kanarraville, located in Iron County, UT, are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $387,284, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill stands at $1,183, while the 75th percentile reaches $3,115, and the 90th percentile can go up to $4,355. Several factors influence the tax bill, including the property's market value, any applicable exemptions, and the local tax rate. Compared to the national median property tax rate of 0.99%, the tax rates in Kanarraville reflect the region's specific economic conditions and local government budget requirements. These tax bills directly affect homeowners by impacting their annual expenses and, potentially, the overall affordability of owning property in the area.
Average Kanarraville Tax Bill
$1,707
Average Iron County Tax Bill
$974
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Kanarraville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84742 | $758 | $1,183 | $1,707 | $3,115 | $4,355 |
Source: Ownwell