Kanosh, Utah Property Taxes
The median property tax rate in Kanosh, UT is 0.53%, which is lower than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $300,533 in Kanosh, the typical annual property tax bill is $1,585, significantly less than the national median of $2,690. Property taxes in Kanosh are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Kanosh'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 Kanosh 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
Kanosh, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$1,593
Ownwell’s Kanosh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kanosh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kanosh 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 Kanosh, Utah
Property taxes in Kanosh, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kanosh is 0.53%, significantly lower than the U.S. national median of 0.99%. Local government entities within Kanosh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kanosh 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 Kanosh's effective property tax rate to other counties in Utah and the national median. For comparison, the 84637 zip code has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Kanosh provides valuable insights into the varying tax landscape across Millard County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kanosh Tax Rate
0.53%
Average Millard County Tax Rate
0.56%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kanosh, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84637 | 0.25% | 0.53% | 0.53% | 0.55% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Kanosh, Utah
In Kanosh, 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 Millard 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 Kanosh, 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 Kanosh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kanosh is $300,533. Homeowners in the 84637 zip code have the highest and lowest median tax bills, both at $1,585.
Average Kanosh Assessed Value
$300,533
Average Millard County Assessed Value
$272,297
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kanosh, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84637 | $140,758 | $216,798 | $300,533 | $445,218 | $595,132 |
Source: Ownwell
Property Tax Bills Across Kanosh, Utah
In Kanosh, located in Millard County, UT, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects a percentage of the property's market value. Several factors influence this value, including the home's size, location, and overall condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Kanosh, the median home price is $300,533. The property tax bills range significantly, with the 25th percentile at $1,098 and the 75th percentile reaching $2,454. The 90th percentile tax bill can go up to $3,495. Compared to the national median property tax rate of 0.99%, the tax rates in Kanosh are competitive but can vary widely based on individual property assessments. This variability in tax bills can impact homeowners' financial planning and overall housing affordability in the region.
Average Kanosh Tax Bill
$1,585
Average Millard County Tax Bill
$1,608
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Kanosh, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84637 | $604 | $1,098 | $1,585 | $2,454 | $3,495 |
Source: Ownwell