Laguna Beach, Utah Property Taxes
The median property tax rate in Laguna Beach, UT is 0.56%, slightly above the state median of 0.55% but still below the national median of 0.99%. With the median home value in Laguna Beach at $1,651,760, the typical annual property tax bill reaches $9,313, significantly higher than the national median of $2,690. Property taxes in Laguna Beach 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 Laguna Beach'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 Laguna Beach 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
Laguna Beach, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$9,250
Ownwell’s Laguna Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Laguna Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laguna Beach 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 Laguna Beach, Utah
Property taxes in Laguna Beach, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laguna Beach is 0.56%, which is lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Laguna Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laguna Beach 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 Laguna Beach's effective property tax rate to other counties in Utah and the national median. For comparison, the 92651 zip code has both the highest and lowest median property tax rate in the area, standing at 0.56%. Understanding how these cities compare with Laguna Beach 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 Laguna Beach Tax Rate
0.56%
Average Summit County Tax Rate
0.52%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laguna Beach, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92651 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Laguna Beach, Utah
In Laguna Beach, 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 Laguna Beach, 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 Laguna Beach stands at $1,651,760, with tax bills ranging from $6,548 at the 25th percentile to $13,736 at the 90th percentile. The highest and lowest median tax bills are both found in the 92651 zip code, amounting to $9,313. 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 Laguna Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Laguna Beach Assessed Value
$1,651,760
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 Laguna Beach, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92651 | $867,167 | $1,161,389 | $1,651,760 | $2,142,130 | $2,436,352 |
Source: Ownwell
Property Tax Bills Across Laguna Beach, Utah
In Laguna Beach, property tax bills are calculated based on the assessed value of the property and the local tax rate. Homeowners in Summit County, Utah, see their properties assessed annually. The assessed value is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $1,651,760, homeowners can expect a significant tax bill. Factors such as the property's market value, location, and any applicable exemptions or deductions are considered in this calculation. The tax bill can vary widely; the 25th percentile tax bill is $6,548, while the 75th percentile tax bill is $12,077, and the 90th percentile tax bill reaches $13,736. These figures highlight the range of property tax obligations homeowners might face. Comparatively, the national median property tax rate is 0.99%, making Laguna Beach's property taxes notably higher. This can significantly impact homeowners, affecting their overall cost of living and financial planning.
Average Laguna Beach Tax Bill
$9,313
Average Summit County Tax Bill
$4,794
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Laguna Beach, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92651 | $4,889 | $6,548 | $9,313 | $12,077 | $13,736 |
Source: Ownwell