Cottonwood Heights, Utah Property Taxes
The median property tax rate in Cottonwood Heights, Utah is 0.56%, slightly higher than the state median of 0.55% but lower than the national median of 0.99%. With a median home value of $699,700, the typical annual property tax bill in Cottonwood Heights is $3,997, significantly exceeding the national median of $2,690. Property taxes here 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 Cottonwood Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cottonwood Heights 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
Cottonwood Heights, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$3,918
Ownwell’s Cottonwood Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cottonwood Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cottonwood Heights 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 Cottonwood Heights, Utah
Property taxes in Cottonwood Heights, Utah, are essential for funding key local services, including public schools, road maintenance, and emergency services. The median tax rate in Cottonwood Heights is 0.56%, which is lower than both the Utah state median of 0.58% and the U.S. national median of 0.99%. Local government entities within Cottonwood Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cottonwood Heights 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 Cottonwood Heights' effective property tax rate to other areas in Salt Lake County and the national median. For comparison, the 84093 zip code has the highest median property tax rate of 0.58%, while the 84047 zip code has the lowest median tax rate of 0.56%. Understanding how these cities compare with Cottonwood Heights provides valuable insights into the varying tax landscape across Salt Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cottonwood Heights Tax Rate
0.56%
Average Salt Lake County Tax Rate
0.56%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cottonwood Heights, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84047 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| 84093 | 0.54% | 0.54% | 0.58% | 0.58% | 0.58% |
| 84121 | 0.54% | 0.54% | 0.56% | 0.58% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Cottonwood Heights, Utah
In Cottonwood Heights, 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 Salt Lake County Assessor's Office 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 Cottonwood Heights, 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. For instance, the highest median tax bill in the area is $7,460 in the 84093 zip code, while the lowest median tax bill is $1,367 in the 84047 zip code. 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 Cottonwood Heights, Utah
Source: Ownwell
$208,700
$750,750
$1,292,800
Average Cottonwood Heights Assessed Value
$699,700
Average Salt Lake County Assessed Value
$475,200
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cottonwood Heights, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84047 | $208,280 | $237,400 | $246,200 | $258,100 | $276,160 |
| 84093 | $880,100 | $933,100 | $1,292,800 | $1,664,900 | $1,731,300 |
| 84121 | $563,800 | $627,700 | $697,700 | $793,900 | $831,560 |
Source: Ownwell
Property Tax Bills Across Cottonwood Heights, Utah
In Cottonwood Heights, property tax bills are calculated based on the assessed value of the home, which is a percentage of the market value. The tax rate for Salt Lake County, where Cottonwood Heights is located, determines the amount homeowners owe. Factors such as property location, size, and market trends influence the assessed value. For instance, the median home price in Cottonwood Heights is $699,700, impacting the overall tax bill. Homeowners in Cottonwood Heights experience a range of tax bills. At the 25th percentile, the tax bill is around $1,544, while at the 75th percentile, it can reach up to $5,020. For those at the 90th percentile, the tax bill may be as high as $8,715. Comparatively, the highest median tax bill in the area is $7,460 in the 84093 zip code, while the lowest is $1,367 in the 84047 zip code. These property taxes significantly affect homeowners' annual expenses, making it crucial to understand the assessed value and applicable tax rates.
Average Cottonwood Heights Tax Bill
$3,997
Average Salt Lake County Tax Bill
$2,800
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Cottonwood Heights, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84047 | $1,156 | $1,318 | $1,367 | $1,433 | $1,533 |
| 84093 | $4,453 | $5,330 | $7,460 | $9,243 | $9,920 |
| 84121 | $2,707 | $3,353 | $4,032 | $4,494 | $4,830 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | September 15 |
| Tax Bill | |
| Issued | October 1 |
Links | |
|---|---|
| Salt Lake Tax Assessor | |
| Phone | (385) 468-7200 |
| Website | slco.org |
| propertytaxappeals@slco.org | |