Taylorsville, Utah Property Taxes
The median property tax rate in Taylorsville, UT is 0.52%, notably lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Taylorsville at $405,605, the typical annual property tax bill amounts to $2,117, which is below the national median of $2,690. Property taxes in Taylorsville are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Taylorsville'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 Taylorsville 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
Taylorsville, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$2,109
Ownwell’s Taylorsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Taylorsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Taylorsville 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 Taylorsville, Utah
Property taxes in Taylorsville, Utah, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Taylorsville is 0.52%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Taylorsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Taylorsville 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 Taylorsville's effective property tax rate to other areas in Utah and the national median. For comparison, the zip code 84129 has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these areas compare with Taylorsville provides valuable insights into the varying tax landscape across Salt Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Taylorsville Tax Rate
0.52%
Average Summit County Tax Rate
0.52%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taylorsville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84129 | 0.52% | 0.52% | 0.52% | 0.52% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Taylorsville, Utah
In Taylorsville, 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 Taylorsville, 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. Taylorsville's median home price is $405,605, with the highest and lowest median tax bills both recorded at $2,117 in the 84129 zip code. 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 Taylorsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Taylorsville Assessed Value
$405,605
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 Taylorsville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84129 | $405,605 | $405,605 | $405,605 | $405,605 | $405,605 |
Source: Ownwell
Property Tax Bills Across Taylorsville, Utah
In Taylorsville, UT, property tax bills are calculated by multiplying the assessed value of a home by the local property tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the property. For homeowners in Taylorsville, the median home price stands at $405,605. With Summit County's property tax rate, the median property tax bill is approximately $2,117 annually, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, homes within the 25th, 75th, and 90th percentiles all share the same tax bill of $2,117, indicating a consistent application of tax rates across different property values. This tax burden directly impacts homeowners, affecting their monthly expenses and overall financial planning. Understanding these factors can help homeowners in Taylorsville better anticipate their annual property tax obligations and manage their budgets accordingly.
Average Taylorsville Tax Bill
$2,117
Average Summit County Tax Bill
$4,794
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Taylorsville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84129 | $2,117 | $2,117 | $2,117 | $2,117 | $2,117 |
Source: Ownwell