Fairview, Utah Property Taxes
The median property tax rate in Fairview, Utah is 0.55%, which aligns with the state median but is notably lower than the national median of 0.99%. With a median home value of $621,750 in Fairview, the typical annual property tax bill reaches $3,469, surpassing the national median of $2,690. Property taxes in Fairview are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Grasping Fairview's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Fairview 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
Fairview, 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 Fairview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairview 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 Fairview, Utah
Property taxes in Fairview, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairview is 0.55%, which is lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Fairview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview 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 Fairview's effective property tax rate to other counties in Utah and the national median. For comparison, the zip code 84629 has both the highest and lowest median property tax rate of 0.55%. Understanding how these cities compare with Fairview provides valuable insights into the varying tax landscape across Utah, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairview Tax Rate
0.55%
Average Utah County Tax Rate
0.47%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairview, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84629 | 0.54% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Fairview, Utah
In Fairview, 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 Utah 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 Fairview, 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 Fairview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $3,469 in the 84629 zip code, highlighting the consistency in property tax assessments within the area.
Average Fairview Assessed Value
$621,750
Average Utah County Assessed Value
$478,000
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairview, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84629 | $513,740 | $552,725 | $621,750 | $709,075 | $780,390 |
Source: Ownwell
Property Tax Bills Across Fairview, Utah
In Fairview, Utah, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by county assessors, who evaluate the property's market value and then apply an assessment ratio. This value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $621,750 in Fairview, the property tax bill can vary significantly. Homeowners in the 25th percentile pay around $2,992, while those in the 75th percentile see bills closer to $3,898. The top 10% of property tax bills reach up to $4,152. These taxes fund essential public services such as schools, roads, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Fairview's rates reflect local economic conditions and public service needs. Homeowners should be aware of these factors as they significantly influence their annual financial planning and the overall cost of homeownership in Fairview.
Average Fairview Tax Bill
$3,469
Average Utah County Tax Bill
$2,288
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84629 | $2,783 | $2,992 | $3,469 | $3,898 | $4,152 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | September 15 |
| Tax Bill | |
| Issued | October 1 |
Links | |
|---|---|
| Utah Tax Assessor | |
| Phone | (801) 851-8109 |
| Website | www.utahcounty.gov |