Randolph, Utah Property Taxes
The median property tax rate in Randolph, Utah is 0.26%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $201,506 in Randolph, the typical annual property tax bill averages $522, well below the national median of $2,690. Property taxes in Randolph are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Randolph'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 Randolph or another part of Rich County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Randolph, Utah Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Randolph Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Randolph with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Randolph 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 Randolph, Utah
Property taxes in Randolph, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Randolph is 0.26%, significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Randolph set these rates annually, and they can vary significantly across different neighborhoods. Each year, Randolph 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 Randolph's effective property tax rate to other counties in Utah and the national median. For comparison, the highest median property tax rate in Utah is found in zip code 84095 with a rate of 0.58%, while the lowest median tax rate is in zip code 84046 at 0.20%. Understanding how these cities compare with Randolph provides valuable insights into the varying tax landscape across Rich County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Randolph Tax Rate
0.26%
Average Rich County Tax Rate
0.42%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Randolph, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84064 | 0.14% | 0.23% | 0.26% | 0.29% | 0.43% |
Source: Ownwell
Property Tax Assessment Values Across Randolph, Utah
In Randolph, 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 Rich 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 Randolph, 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 Randolph helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 84064 in Randolph has both the highest and lowest median tax bill at $522.
Average Randolph Assessed Value
$201,506
Average Rich County Assessed Value
$407,179
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Randolph, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84064 | $44,693 | $114,669 | $201,506 | $364,218 | $482,014 |
Source: Ownwell
Property Tax Bills Across Randolph, Utah
In Randolph, located in Rich County, UT, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and is a percentage of the market value of the property. For homeowners in Randolph, the median home price stands at $201,506. The property tax rate in Randolph is used to calculate the annual tax bill, which is then influenced by various factors such as property improvements, neighborhood developments, and local government budgets. Homeowners in Randolph can expect their property tax bills to vary. The 25th percentile tax bill is approximately $315, while the 75th percentile reaches around $842. Those in the 90th percentile may see tax bills as high as $1,042. Comparatively, the national median property tax rate is 0.99%, making Randolph's rates relatively moderate. These property taxes fund essential local services, including schools, public safety, and infrastructure, directly impacting the quality of life and property values in the community.
Average Randolph Tax Bill
$522
Average Rich County Tax Bill
$1,679
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Randolph, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84064 | $203 | $315 | $522 | $842 | $1,042 |
Source: Ownwell