Murray, Utah Property Taxes
The median property tax rate in Murray, UT is 0.59%, slightly higher than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Murray at $470,000, the typical annual property tax bill reaches $2,703, just above the national median of $2,690. Property taxes in Murray are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Murray'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 Murray 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
Murray, 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 Murray Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Murray with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Murray 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 Murray, Utah
Property taxes in Murray, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Murray is 0.59%, which is lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Murray set these rates annually, and they can vary significantly across different neighborhoods. Each year, Murray 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 Murray's effective property tax rate to other counties in Utah and the national median. For comparison, the 84121 zip code has the highest median property tax rate of 0.59%, while the 8412 zip code has the lowest median tax rate of 0.47%. Understanding how these cities compare with Murray 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 Murray Tax Rate
0.59%
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 Murray, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84107 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
| 8412 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
| 84121 | 0.48% | 0.57% | 0.59% | 0.59% | 0.63% |
| 84123 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Murray, Utah
In Murray, 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 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 Murray, 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. For instance, the highest median tax bill in Murray is $3,075 in the 84123 zip code, while the lowest is $2,622 in the 84107 zip code. 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 Murray helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Murray Assessed Value
$470,000
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 Murray, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84107 | $506,750 | $521,175 | $557,000 | $611,250 | $657,420 |
| 8412 | $617,700 | $617,700 | $617,700 | $617,700 | $617,700 |
| 84121 | $283,160 | $377,200 | $460,000 | $582,300 | $718,780 |
| 84123 | $562,980 | $617,750 | $649,200 | $687,950 | $766,640 |
Source: Ownwell
Property Tax Bills Across Murray, Utah
In Murray, located in Salt Lake County, UT, property tax bills are calculated based on the assessed value of a home, 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 value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners, this means that changes in the local real estate market or significant home renovations can impact their property tax bills. In Murray, typical tax bills range significantly, with the 25th percentile at $2,134 and the 75th percentile at $3,323, indicating a broad spectrum of property values and tax obligations. The highest median tax bill in the area is $3,075, while the lowest is $2,622. These figures highlight the variability in tax burdens, which can affect homeowners' financial planning and overall cost of living in the area.
Average Murray Tax Bill
$2,703
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 Murray, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84107 | $2,369 | $2,448 | $2,622 | $2,877 | $3,095 |
| 8412 | $2,908 | $2,908 | $2,908 | $2,908 | $2,908 |
| 84121 | $1,156 | $2,091 | $2,684 | $3,340 | $4,103 |
| 84123 | $2,588 | $2,908 | $3,075 | $3,277 | $3,645 |
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 | |