Greenwich, Utah Property Taxes
The median property tax rate in Greenwich, Utah is 0.52%, 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 $121,316 in Greenwich, the typical annual property tax bill amounts to $560, significantly less than the national median of $2,690. Property taxes in Greenwich are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Greenwich's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Greenwich 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
Greenwich, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$631
Ownwell’s Greenwich Property Tax Bill Calculator empowers homeowners, real estate investors, and potential owners to estimate their annual property taxes in Greenwich with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenwich 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 Greenwich, Utah
Property taxes in Greenwich, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenwich is 0.52%, which is lower than the U.S. national median of 0.99%. Local government entities within Greenwich set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenwich 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 Greenwich's effective property tax rate to other counties in Utah and the national median. For comparison, the 84732 zip code has both the highest and lowest median property tax rate of 0.52%. Understanding how these cities compare with Greenwich provides valuable insights into the varying tax landscape across Piute County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenwich Tax Rate
0.52%
Average Piute County Tax Rate
0.84%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenwich, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84732 | 0.44% | 0.45% | 0.52% | 0.73% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Greenwich, Utah
In Greenwich, 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 Piute 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 Greenwich, 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 Greenwich helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 84732 at $560, while the lowest is also 84732 at $560.
Average Greenwich Assessed Value
$121,316
Average Piute County Assessed Value
$99,258
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenwich, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84732 | $53,826 | $72,482 | $121,316 | $188,434 | $229,854 |
Source: Ownwell
Property Tax Bills Across Greenwich, Utah
In Greenwich, Piute County, UT, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions or abatements. For example, the median home price in Greenwich is $121,316, leading to a median tax bill of $560. The tax bill can vary significantly, with the 25th percentile at $419 and the 75th percentile at $1,024, reaching up to $1,272 at the 90th percentile. These property taxes impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Understanding how these taxes are calculated helps homeowners budget effectively and potentially identify opportunities for tax savings through appeals or exemptions.
Average Greenwich Tax Bill
$560
Average Piute County Tax Bill
$710
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenwich, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84732 | $383 | $419 | $560 | $1,024 | $1,272 |
Source: Ownwell