Hideout, Utah Property Taxes
The median property tax rate in Hideout, UT is 0.51%, considerably lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Hideout, the typical annual property tax bill reaches $7,160, significantly exceeding the national median of $2,690. Property taxes in Hideout 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 Hideout'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 Hideout 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
Hideout, 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 HIDEOUT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HIDEOUT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HIDEOUT 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 Hideout, Utah
Property taxes in Hideout, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hideout is 0.51%, significantly lower than the U.S. national median of 0.99%. Local government entities within Hideout set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hideout 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 Hideout's effective property tax rate to other counties in Utah and the national median. For comparison, the 84036 zip code, which includes Hideout, has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Hideout provides valuable insights into the varying tax landscape across Wasatch County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hideout Tax Rate
0.51%
Average Wasatch County Tax Rate
0.52%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hideout, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84036 | 0.51% | 0.51% | 0.51% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Hideout, Utah
In Hideout, Utah, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Wasatch 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 Hideout, 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 Hideout helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 84036 in Hideout has the highest median tax bill at $7,160, while the lowest is also $7,160.
Average Hideout Assessed Value
$1,361,426
Average Wasatch County Assessed Value
$756,305
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hideout, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84036 | $727,411 | $1,236,670 | $1,361,426 | $1,853,040 | $1,853,040 |
Source: Ownwell
Property Tax Bills Across Hideout, Utah
In Hideout, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Hideout is $1,361,426, and homeowners can expect to pay tax bills that vary significantly. For instance, the 25th percentile tax bill is $6,313, while the 75th percentile tax bill is $10,790, and the 90th percentile tax bill reaches $15,086. Several factors influence these tax bills, including property size, location, and any applicable exemptions or abatements. Compared to the national median property tax rate of 0.99%, Hideout’s tax rates result in higher tax bills due to the higher property values in the area. This can significantly impact homeowners, as higher property taxes can increase the overall cost of owning a home. Being aware of these factors can help homeowners better prepare for their annual property tax obligations.
Average Hideout Tax Bill
$7,160
Average Wasatch County Tax Bill
$4,768
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Hideout, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84036 | $3,878 | $6,313 | $7,160 | $10,790 | $15,086 |
Source: Ownwell