Lake Point, Tooele County, Utah Property Taxes
Median LAKE POINT, UT effective property tax rate: 0.56%, significantly lower than the national median of 1.02%, but higher than the Utah state median of 0.55%.
Median LAKE POINT, UT home value: $566,509
Median annual LAKE POINT, UT tax bill: $3,174, $774 higher than the national median property tax bill of $2,400.
How are property taxes in Tooele County calculated?
Property taxes in LAKE POINT, 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 LAKE POINT’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in LAKE POINT, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lake Point, Tooele County, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.56%
Estimate Property Tax Bill
$3,172
$2,944
Property Tax Rates Across Lake Point, Tooele County, Utah
Local government entities determine property tax rates, and these can vary significantly within a state. Each year, counties like Tooele in Utah estimate their necessary budget to provide public services and divide this by the total value of all taxable properties within their jurisdiction. This calculation establishes the property tax rate. While the process involves votes and legislation, this is the basic annual procedure.
In Lake Point, located within Tooele County, the effective property tax rate is a reflection of this process. Compared to other cities in Utah, Lake Point's tax rate aligns with the state's median, which is notably lower than the national median property tax rate of 1.02%. This means residents of Lake Point typically pay less in property taxes compared to the average American homeowner. Understanding these variances can be crucial for homeowners looking to manage their property tax obligations effectively.
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 Lake Point Tax Rate
0.56%
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 Tooele County Tax Rate
0.59%
Median Effective Utah Tax Rate
0.55%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake Point, Tooele County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84074 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Lake Point, Tooele County, Utah
When examining property taxes in Lake Point, 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 Tooele 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 Tooele County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Lake Point.
For example, the median home price in Lake Point is $566,509, with tax bills ranging significantly across the county. Zip code 84074 has the highest median home price at $566,509.
Property Tax Assessment Values Across Lake Point, Tooele County, Utah
Source: Ownwell
$156,552
$361,531
$566,509
Median Lake Point Market Value
$566,509
Median Tooele County Market Value
$428,538
Median Utah Market Value
$457,600
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake Point, Tooele County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84074 | $465,664 | $521,007 | $566,509 | $606,792 | $687,728 |
Source: Ownwell
Property Tax Bills Across Lake Point, Tooele County, Utah
Median Lake Point Tax Bill
$3,174
Median Tooele County Tax Bill
$2,475
Median Utah Tax Bill
$2,492
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake Point, Tooele County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84074 | $2,145 | $2,863 | $3,174 | $3,460 | $3,843 |
Source: Ownwell