Glenwood, Utah Property Taxes
The median property tax rate in Glenwood, Utah is 0.48%, significantly lower than both the national median of 0.99% and Utah's state median of 0.55%. With the median home value in Glenwood at $345,317, the typical annual property tax bill amounts to $1,661, well below the national median of $2,690. Property taxes in Glenwood are calculated based on the assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Glenwood'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 Glenwood 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
Glenwood, 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 Glenwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glenwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glenwood 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 Glenwood, Utah
Property taxes in Glenwood, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glenwood is 0.48%, lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Glenwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glenwood 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 Glenwood's effective property tax rate to other counties in Utah and the national median. For comparison, the 84730 zip code has both the highest and lowest median property tax rate of 0.48%, reflecting a uniform rate across the area. Understanding how these cities compare with Glenwood provides valuable insights into the varying tax landscape across Sevier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glenwood Tax Rate
0.48%
Average Sevier County Tax Rate
0.55%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glenwood, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84730 | 0.41% | 0.48% | 0.48% | 0.49% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Glenwood, Utah
In Glenwood, 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 Sevier 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. Assessment notices in Glenwood 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 Glenwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 84730 has both the highest and lowest median tax bill at $1,661.
Average Glenwood Assessed Value
$345,317
Average Sevier County Assessed Value
$296,622
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glenwood, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84730 | $243,676 | $282,916 | $345,317 | $482,146 | $703,456 |
Source: Ownwell
Property Tax Bills Across Glenwood, Utah
In Glenwood, located in Sevier County, Utah, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and market conditions. For instance, the median home price in Glenwood stands at $345,317. Homeowners in Glenwood can expect a wide range of tax bills, with the 25th percentile paying around $1,309, the 75th percentile paying approximately $2,394, and those in the 90th percentile facing tax bills up to $3,325. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. These property taxes are crucial as they fund essential community services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Glenwood Tax Bill
$1,661
Average Sevier County Tax Bill
$1,616
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Glenwood, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84730 | $923 | $1,309 | $1,661 | $2,394 | $3,325 |
Source: Ownwell