Nephi, Utah Property Taxes
The median property tax rate in Nephi, Utah is 0.59%, slightly higher than the state median of 0.55% but lower than the national median of 0.99%. With the median home value in Nephi at $438,768, the typical annual property tax bill amounts to $2,577, which is below the national median of $2,690. Property taxes in Nephi are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Nephi'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 Nephi 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
Nephi, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$2,589
Ownwell’s Nephi Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nephi with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nephi 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 Nephi, Utah
Property taxes in Nephi, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nephi is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Nephi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nephi 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 Nephi's effective property tax rate to other counties in Utah and the national median. For comparison, the zip code 84648 has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Nephi 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 Nephi Tax Rate
0.59%
Average Juab County Tax Rate
0.59%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nephi, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84648 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Nephi, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Nephi, 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 Juab County Assessor 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 Nephi, 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 Nephi helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price in Nephi is $438,768, with the 25th percentile tax bill at $2,022 and the 75th percentile tax bill at $3,180. The highest and lowest median tax bills are both $2,577 in the 84648 zip code.
Average Nephi Assessed Value
$438,768
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 Nephi, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84648 | $288,099 | $342,930 | $438,768 | $540,916 | $668,288 |
Source: Ownwell
Property Tax Bills Across Nephi, Utah
Property tax bills in Nephi, located in Juab County, Utah, are calculated based on the assessed value of a property. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $438,768, homeowners can expect a tax bill that varies significantly depending on specific factors such as property location and local levies. The tax bill for the 25th percentile is around $2,022, while the 75th percentile sees a tax bill of approximately $3,180. At the 90th percentile, the tax bill can reach up to $3,920. These property taxes contribute to essential public services, including schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Nephi's property tax rates offer a competitive landscape for homeowners. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Nephi Tax Bill
$2,577
Average Juab County Tax Bill
$2,512
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Nephi, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84648 | $1,704 | $2,022 | $2,577 | $3,180 | $3,920 |
Source: Ownwell