Salem, Utah Property Taxes
The median property tax rate in Salem, UT is 0.54%, slightly lower than the state median of 0.55% and well below the national median of 0.99%. With the median home value in Salem at $552,050, the typical annual property tax bill reaches $2,950, which is above the national median of $2,690. Property taxes in Salem are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Salem'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 Salem 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
Salem, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$2,981
Ownwell’s Salem Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Salem quickly and accurately. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Salem to provide an estimated property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value is determined by the county for tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Salem, Utah
Property taxes in Salem, Utah, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Salem is 0.54%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Salem set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salem 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 Salem's effective property tax rate to other counties in Utah and the national median. For comparison, the 84653 zip code has the highest median property tax rate of 0.54%, while the lowest median tax rate is also 0.54% in the same zip code. Understanding how these cities compare with Salem 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 Salem 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 Salem, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84653 | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Salem, Utah
In Salem, 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 Salem, 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. The zip code 84653 has the highest and lowest median tax bill, both at $2,950. Being aware of these valuation processes in Salem helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Salem Assessed Value
$552,050
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 Salem, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84653 | $349,700 | $434,700 | $552,050 | $675,800 | $859,940 |
Source: Ownwell
Property Tax Bills Across Salem, Utah
In Salem, Utah County, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. Homeowners in Salem typically experience property tax bills that range from $2,305 at the 25th percentile to $4,528 at the 90th percentile, with the median home price being $552,050. The tax rate in Salem is influenced by various factors, including local government budgets, school funding requirements, and public service needs. For homeowners, the assessed value of their property is a crucial determinant of their tax bill. This assessed value is multiplied by the local tax rate to arrive at the annual property tax bill. Compared to the national median property tax rate of 0.99%, Salem's property tax rates reflect the specific financial needs and priorities of the local community. For homeowners, understanding these factors is essential for financial planning and anticipating yearly tax obligations. The highest and lowest median tax bills in Salem are both recorded at $2,950 in the 84653 zip code, indicating a relatively consistent tax environment within the area.
Average Salem Tax Bill
$2,950
Average Utah County Tax Bill
$2,288
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Salem, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84653 | $1,843 | $2,305 | $2,950 | $3,625 | $4,528 |
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 |