Lehi, Utah Property Taxes
The median property tax rate in Lehi, UT is 0.43%, considerably lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Lehi at $517,900, the typical annual property tax bill reaches $2,242, which is below the national median of $2,690. Property taxes in Lehi are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lehi'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 Lehi 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
Lehi, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$2,227
Ownwell’s Lehi Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lehi to provide an estimate of your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by Utah County for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Lehi, Utah
Property taxes in Lehi, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lehi is 0.43%, which is lower than the U.S. national median of 0.99%. Local government entities within Lehi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lehi 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 Lehi's effective property tax rate to other areas in Utah County and the national median. For comparison, the 84045 zip code has the highest median property tax rate of 0.49%, while the 84043 zip code has the lowest median tax rate of 0.43%. Understanding how these areas compare with Lehi provides valuable insights into the varying tax landscape across Utah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lehi Tax Rate
0.43%
Average Utah County Tax Rate
0.47%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lehi, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84043 | 0.43% | 0.43% | 0.43% | 0.43% | 0.43% |
| 84045 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Lehi, Utah
In Lehi, 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 Lehi, 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. For instance, the highest median tax bill in the area is $3,538 in the 84045 zip code, while the lowest median tax bill is $2,242 in the 84043 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lehi Assessed Value
$517,900
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 Lehi, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84043 | $369,800 | $432,800 | $517,900 | $664,600 | $838,400 |
| 84045 | $719,800 | $719,800 | $719,800 | $719,800 | $719,800 |
Source: Ownwell
Property Tax Bills Across Lehi, Utah
Property tax bills in Lehi, located in Utah County, UT, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors influence the assessed value, including property size, location, and recent sales of comparable properties. In Lehi, the median home price stands at $517,900. Property tax bills vary widely, with the 25th percentile tax bill at $1,866 and the 75th percentile at $2,883. The 90th percentile tax bill reaches up to $3,650. When comparing different areas within Utah County, the highest median tax bill is $3,538 in the 84045 zip code, while the lowest is $2,242 in the 84043 zip code. These variations can significantly impact homeowners, influencing their overall housing costs and financial planning. Understanding these factors helps homeowners anticipate their property tax obligations more accurately.
Average Lehi Tax Bill
$2,242
Average Utah County Tax Bill
$2,288
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Lehi, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84043 | $1,575 | $1,866 | $2,242 | $2,883 | $3,650 |
| 84045 | $3,538 | $3,538 | $3,538 | $3,538 | $3,538 |
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 |