Bethesda, Utah Property Taxes
The median property tax rate in Bethesda, Utah is 0.58%, slightly higher than the state median of 0.55% but lower than the national median of 0.99%. With the median home value in Bethesda at $6,059,100, the typical annual property tax bill reaches $34,876, significantly exceeding the national median of $2,690. Property taxes in Bethesda 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 Bethesda'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 Bethesda 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
Bethesda, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$35,143
Ownwell’s Bethesda Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bethesda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bethesda to provide an estimate of your property tax bill. This invaluable tool helps you grasp potential tax liabilities. For those interested in more granular insights, scroll down to explore trends at the neighborhood level. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Bethesda, Utah
Property taxes in Bethesda, Utah, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethesda is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Bethesda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethesda 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 Bethesda's effective property tax rate to other counties in Utah and the national median. For comparison, the 20817 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these cities compare with Bethesda provides valuable insights into the varying tax landscape across Summit County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethesda Tax Rate
0.58%
Average Summit County Tax Rate
0.52%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethesda, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20817 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Bethesda, Utah
In Bethesda, 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 Summit 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 Bethesda, 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. The median home price in Bethesda is $6,059,100, with the median tax bill at the 25th, 75th, and 90th percentiles being $34,876. Interestingly, the zip code 20817 has both the highest and lowest median tax bills, standing at $34,876. 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 Bethesda helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bethesda Assessed Value
$6,059,100
Average Summit County Assessed Value
$1,192,250
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bethesda, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20817 | $6,059,100 | $6,059,100 | $6,059,100 | $6,059,100 | $6,059,100 |
Source: Ownwell
Property Tax Bills Across Bethesda, Utah
In Bethesda, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value takes into account various factors, including the property's market value, location, and any improvements made. Homeowners in Bethesda, located in Summit County, face a median home price of $6,059,100. This high property value significantly impacts the tax bill, which can reach up to $34,876 for the 25th, 75th, and 90th percentiles. Compared to the national median property tax rate of 0.99%, Bethesda's property tax bills are notably higher due to the elevated home prices. This financial burden can be substantial for homeowners, affecting their overall cost of living and budgeting. Understanding how these factors interplay is crucial for residents, as it helps them anticipate their tax obligations and plan accordingly.
Average Bethesda Tax Bill
$34,876
Average Summit County Tax Bill
$4,794
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethesda, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20817 | $34,876 | $34,876 | $34,876 | $34,876 | $34,876 |
Source: Ownwell