Croydon, Morgan County, Utah Property Taxes
The median property tax rate in Croydon, Utah is 0.60%, slightly higher than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $635,104 in Croydon, the typical annual property tax bill reaches $3,590, surpassing the national median of $2,690. Property taxes in Croydon 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 Croydon'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 Croydon or another part of Morgan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Croydon, Morgan County, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$3,811
$3,536
Ownwell’s Croydon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Croydon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Croydon 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 Croydon, Morgan County, Utah
Property taxes in Croydon, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Croydon is 0.60%, lower than the U.S. national median of 0.99%. Local government entities within Croydon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Croydon 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 Croydon's effective property tax rate to other areas in Utah and the national median. For comparison, the 84018 zip code has the same median property tax rate of 0.60%. Understanding how these areas compare with Croydon provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Croydon Tax Rate
0.60%
Average Morgan County Tax Rate
0.63%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Croydon, Morgan County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84018 | 0.35% | 0.59% | 0.60% | 0.62% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Croydon, Morgan County, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Croydon, 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 Morgan 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 Croydon, 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. Croydon's median home price is $635,104, with median tax bills ranging from $2,805 at the 25th percentile to $5,319 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Croydon, Morgan County, Utah
Source: Ownwell
$635,104
$636,811
$638,517
Average Croydon Assessed Value
$635,104
Average Morgan County Assessed Value
$638,258
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Croydon, Morgan County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84018 | $424,659 | $500,065 | $635,104 | $770,116 | $1,110,552 |
Source: Ownwell
Property Tax Bills Across Croydon, Morgan County, Utah
In Croydon, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to generate the annual tax bill. Several factors influence the assessed value, including the home's size, age, location, and market conditions. For instance, with a median home price of $635,104, homeowners in Croydon can expect varying tax bills. The 25th percentile tax bill is $2,805, while the 75th percentile tax bill reaches $4,322. At the higher end, the 90th percentile tax bill is $5,319. Homeowners should be aware that these tax bills can significantly impact their annual budgets. Comparing these figures to the national median property tax rate of 0.99%, Croydon's tax rates may seem relatively moderate, yet they still represent a substantial expense. Understanding how property taxes are calculated can help homeowners better anticipate their financial obligations and plan accordingly.
Average Croydon Tax Bill
$3,590
Average Morgan County Tax Bill
$4,004
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Croydon, Morgan County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84018 | $2,398 | $2,805 | $3,590 | $4,322 | $5,319 |
Source: Ownwell