Mona, Utah Property Taxes
The median property tax rate in Mona, UT is 0.58%, slightly higher than the Utah state median of 0.55% but lower than the national median of 0.99%. With a median home value of $559,981 in Mona, the typical annual property tax bill reaches $3,230, surpassing the national median of $2,690. Property taxes in Mona are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Mona'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 Mona 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
Mona, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$3,248
Ownwell’s MONA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MONA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MONA 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 Mona, Utah
Property taxes in Mona, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mona is 0.58%, lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Mona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mona 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 Mona's effective property tax rate to other counties in Utah and the national median. For comparison, the 84645 zip code has the highest median property tax rate of 0.58%, while the same 84645 zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Mona provides valuable insights into the varying tax landscape across Juab County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mona Tax Rate
0.58%
Average Juab County Tax Rate
0.59%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mona, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84645 | 0.56% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Mona, Utah
In Mona, 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 Juab 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. In Mona, 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 Mona helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Mona is $3,230 in the 84645 zip code, while the lowest median tax bill is also $3,230 in the same zip code.
Average Mona Assessed Value
$559,981
Average Juab County Assessed Value
$429,656
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mona, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84645 | $335,181 | $431,868 | $559,981 | $664,737 | $767,146 |
Source: Ownwell
Property Tax Bills Across Mona, Utah
In Mona, located in Juab County, UT, property tax bills are calculated based on the assessed value of the property, which is derived from the market value. The median home price in Mona is $559,981. To determine the tax bill, the assessed value is multiplied by the local tax rate. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Mona can expect property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $2,499, while at the 75th percentile, it reaches $3,787. At the 90th percentile, it can go up to $4,378. These variations highlight the impact of differing property values and tax rates within the area. Compared to the national median property tax rate of 0.99%, the property taxes in Mona can be relatively high, affecting homeowners by increasing their annual expenses. Understanding these factors is crucial for homeowners to anticipate their financial obligations accurately.
Average Mona Tax Bill
$3,230
Average Juab County Tax Bill
$2,512
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Mona, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84645 | $1,956 | $2,499 | $3,230 | $3,787 | $4,378 |
Source: Ownwell