Erda, Utah Property Taxes
The median property tax rate in Erda, UT is 0.55%, which aligns with the Utah state median but is notably lower than the national median of 0.99%. With the median home value in Erda at $735,946, the typical annual property tax bill reaches $4,143, significantly surpassing the national median of $2,690. Property taxes in Erda are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Erda'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 Erda 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
Erda, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$4,048
Ownwell’s ERDA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ERDA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ERDA 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 Erda, Utah
Property taxes in Erda, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Erda is 0.55%, lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Erda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Erda 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 Erda's effective property tax rate to other counties in Utah and the national median. For comparison, the 84074 zip code has the highest median property tax rate of 0.55%, while the 84074 zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Erda provides valuable insights into the varying tax landscape across Tooele County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Erda Tax Rate
0.55%
Average Tooele County Tax Rate
0.59%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Erda, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84074 | 0.55% | 0.55% | 0.55% | 0.56% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Erda, Utah
In ERDA, 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 Tooele 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 ERDA, 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 ERDA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 84074 has both the highest and lowest median tax bill, valued at $4,143.
Average Erda Assessed Value
$735,946
Average Tooele County Assessed Value
$428,538
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Erda, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84074 | $719,970 | $724,370 | $735,946 | $754,222 | $770,683 |
Source: Ownwell
Property Tax Bills Across Erda, Utah
In ERDA, located in Tooele County, UT, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the local property tax rate to determine the tax bill. For homeowners in ERDA, the median home price stands at $735,946. Property tax bills can vary significantly; for instance, the 25th percentile tax bill is around $4,055, while the 75th percentile tax bill reaches up to $4,224. At the 90th percentile, homeowners might see tax bills as high as $4,258. In comparison to the national median property tax rate of 0.99%, these figures indicate a higher tax burden for ERDA residents. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly. High property taxes can impact a homeowner's budget, influencing decisions on property improvements and overall financial planning.
Average Erda Tax Bill
$4,143
Average Tooele County Tax Bill
$2,475
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Erda, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84074 | $4,010 | $4,055 | $4,143 | $4,224 | $4,258 |
Source: Ownwell