Grantsville, Utah Property Taxes
The median property tax rate in Grantsville, UT is 0.54%, slightly lower than the Utah state median of 0.55% and well below the national median of 0.99%. With a median home value of $468,227 in Grantsville, the typical annual property tax bill is approximately $2,474, which is slightly under the national median of $2,690. Property taxes in Grantsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Grantsville'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 Grantsville or another part of Tooele County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grantsville, 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 Grantsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grantsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grantsville 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 Grantsville, Utah
Property taxes in Grantsville, Utah, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grantsville is 0.54%, which is lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Grantsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grantsville 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 Grantsville'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 1.07%, while the 84029 zip code has the lowest median tax rate of 0.54%. Understanding how these cities compare with Grantsville 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 Grantsville Tax Rate
0.54%
Average Tooele County Tax Rate
0.59%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grantsville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84029 | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
| 84074 | 1.07% | 1.07% | 1.07% | 1.07% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Grantsville, Utah
In Grantsville, 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 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 Grantsville, 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 Grantsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,476 in the 84029 zip code, while the lowest is $854 in the 84074 zip code.
Average Grantsville Assessed Value
$468,227
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 Grantsville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84029 | $269,792 | $351,524 | $468,482 | $563,844 | $659,158 |
| 84074 | $79,922 | $79,922 | $79,922 | $79,922 | $79,922 |
Source: Ownwell
Property Tax Bills Across Grantsville, Utah
In Grantsville, Tooele 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 a percentage of the market value of the property. For instance, the median home price in Grantsville is $468,227. The property tax rate is then applied to this assessed value to calculate the annual tax bill. Various factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. In Grantsville, the tax bills can vary significantly. For example, the 25th percentile tax bill is around $1,803, while the 75th percentile tax bill reaches $3,006, and the 90th percentile tax bill can be as high as $3,521. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners in Grantsville may find that their property tax bills are lower than the national median property tax rate of 0.99%, potentially making it a more affordable location for property ownership.
Average Grantsville Tax Bill
$2,474
Average Tooele County Tax Bill
$2,475
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Grantsville, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84029 | $1,298 | $1,806 | $2,476 | $3,007 | $3,522 |
| 84074 | $854 | $854 | $854 | $854 | $854 |
Source: Ownwell