Coalville, Utah Property Taxes
The median property tax rate in Coalville, Utah, is 0.36%, considerably lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Coalville at $650,212, the typical annual property tax bill reaches $2,449, slightly below the national median of $2,690. Property taxes in Coalville 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 Coalville'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 Coalville 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
Coalville, 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 Coalville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coalville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coalville 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 Coalville, Utah
Property taxes in Coalville, Utah, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Coalville is 0.36%, which is significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Coalville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coalville 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 Coalville'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 84060 with a rate of 0.75%, while the lowest median tax rate is in zip code 84017 at 0.25%. Understanding how these cities compare with Coalville 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 Coalville Tax Rate
0.36%
Average Summit County Tax Rate
0.52%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coalville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84017 | 0.31% | 0.31% | 0.36% | 0.55% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Coalville, Utah
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Coalville, Utah. 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 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 Coalville, 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 Coalville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Coalville is $2,449, found in the 84017 zip code.
Average Coalville Assessed Value
$650,212
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 Coalville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84017 | $334,901 | $454,030 | $650,212 | $935,762 | $1,320,734 |
Source: Ownwell
Property Tax Bills Across Coalville, Utah
In Coalville, Summit County, UT, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The tax rate in this area varies, but it is crucial to note that the national median property tax rate is 0.99%. Several factors influence the assessed value, including the home's market value, location, and any improvements or modifications made to the property. For instance, the median home price in Coalville is $650,212, which can significantly impact the tax bill. Homeowners in the 25th percentile can expect a tax bill around $1,725, while those in the 75th percentile may see bills as high as $3,857. At the 90th percentile, tax bills can reach up to $6,148. These property taxes fund essential services such as public education, infrastructure, and emergency services, directly affecting homeowners by enhancing community living standards.
Average Coalville Tax Bill
$2,449
Average Summit County Tax Bill
$4,794
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Coalville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84017 | $1,213 | $1,725 | $2,449 | $3,857 | $6,148 |
Source: Ownwell