Payson, Utah Property Taxes
The median property tax rate in Payson, UT is 0.54%, slightly below both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $442,900 in Payson, the typical annual property tax bill is approximately $2,362, which is lower than the national median of $2,690. Property taxes in Payson are calculated based on the tax assessed value, often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Payson’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 Payson 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
Payson, 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 Payson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Payson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Payson 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 Payson, Utah
Property taxes in Payson, Utah, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Payson is 0.54%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Payson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Payson 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 Payson's effective property tax rate to other counties in Utah and the national median. For comparison, the 84651 zip code has the highest median property tax rate of 0.54%, while also having the lowest median tax rate of 0.54%. Understanding how these cities compare with Payson 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 Payson Tax Rate
0.54%
Average Utah County Tax Rate
0.47%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Payson, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84651 | 0.53% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Payson, Utah
In Payson, 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 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 Payson, 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. Payson’s zip code 84651 has a median tax bill of $2,362, which is notable for both its highest and lowest tax bills. Being aware of these valuation processes in Payson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Payson Assessed Value
$442,900
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 Payson, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84651 | $300,400 | $360,000 | $442,900 | $546,300 | $721,460 |
Source: Ownwell
Property Tax Bills Across Payson, Utah
In Payson, located in Utah 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 home's market value, which in Payson has a median of $442,900. The tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For instance, Payson's property tax bills range from the 25th percentile at $1,915 to the 75th percentile at $2,895, with the 90th percentile reaching up to $3,645. These property taxes significantly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Payson’s tax rates offer a competitive landscape, balancing quality community services with the financial responsibilities of homeowners.
Average Payson Tax Bill
$2,362
Average Utah County Tax Bill
$2,288
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Payson, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84651 | $1,576 | $1,915 | $2,362 | $2,895 | $3,645 |
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 |