Park City, Summit County, Utah Property Taxes
Median Park City, UT effective property tax rate: 0.55%, significantly lower than the national median of 1.02%, but equal to the Utah state median of 0.55%.
Median Park City, UT home value: $1,483,900
Median annual Park City, UT tax bill: $6,031, $3,631 higher than the national median property tax bill of $2,400.
How are property taxes in Summit calculated?
Property taxes in Park City, UT are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Park City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Park City, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Park City, Summit County, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.55%
Estimate Property Tax Bill
$8,161
$7,574
Property Tax Rates Across Park City, Summit County, Utah
Local government entities in Utah, like elsewhere, set tax rates, which can vary widely within the state. Each year, counties estimate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Park City in Summit County, Utah, exemplifies this process with its own effective property tax rate. When comparing Park City's tax rate to other cities in Utah, it's evident that the rates can differ significantly across the state. Park City's rate is notably lower than the national median property tax rate of 1.02%. This lower rate can result in substantial savings for property owners compared to the national average. Understanding these differences is crucial for property owners aiming to manage their tax liabilities effectively. By staying informed about local tax rates and how they compare to state and national averages, property owners can make more informed financial decisions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Park City Tax Rate
0.55%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Summit County Tax Rate
0.52%
Median Effective Utah Tax Rate
0.55%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Park City, Summit County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84060 | 0.31% | 0.31% | 0.56% | 0.56% | 0.56% |
| 84098 | 0.30% | 0.31% | 0.32% | 0.55% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Park City, Summit County, Utah
When examining property taxes in Park City, Utah, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Summit County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Summit County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Park City. For example, the median home price in Park City is $1,483,900, with tax bills ranging significantly across the county. The 84060 zip code has the highest median home price at $1,819,372.
Property Tax Assessment Values Across Park City, Summit County, Utah
Source: Ownwell
$571,220
$1,195,296
$1,819,372
Median Park City Market Value
$1,483,900
Median Summit County Market Value
$1,192,250
Median Utah Market Value
$457,600
Median United States Market Value
$235,294
Property Tax Assessment Values Across Park City, Summit County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84060 | $395,450 | $900,273 | $1,819,372 | $3,200,000 | $5,131,500 |
| 84098 | $462,000 | $830,700 | $1,279,042 | $2,081,870 | $3,727,096 |
Source: Ownwell
Property Tax Bills Across Park City, Summit County, Utah
Median Park City Tax Bill
$6,031
Median Summit County Tax Bill
$4,794
Median Utah Tax Bill
$2,492
Median United States Tax Bill
$2,400
Property Tax Bills Across Park City, Summit County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84060 | $2,229 | $4,482 | $8,294 | $15,659 | $26,928 |
| 84098 | $2,000 | $3,192 | $5,012 | $8,013 | $15,242 |
Source: Ownwell