Dammeron Valley, Utah Property Taxes
The median property tax rate in Dammeron Valley, UT is 0.35%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With a median home value of $696,500 in Dammeron Valley, the typical annual property tax bill is $2,504, which is below the national median of $2,690. Property taxes in Dammeron Valley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dammeron Valley's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Dammeron Valley or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dammeron Valley, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$2,438
Ownwell’s Dammeron Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dammeron Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dammeron Valley 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 Dammeron Valley, Utah
Property taxes in Dammeron Valley, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dammeron Valley is 0.35%, significantly lower than both the Utah state median and the U.S. national median of 0.99%. Local government entities within Dammeron Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dammeron Valley 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 Dammeron Valley's effective property tax rate to other counties in Utah and the national median. For comparison, the highest median property tax rate in Utah is found in zip code 84101, with a rate of 0.72%, while the lowest median tax rate is in zip code 84001, standing at 0.30%. Understanding how these cities compare with Dammeron Valley provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dammeron Valley Tax Rate
0.35%
Average Washington County Tax Rate
0.40%
Average Utah Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dammeron Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84783 | 0.34% | 0.34% | 0.35% | 0.38% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Dammeron Valley, Utah
In Dammeron Valley, 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 Washington 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 Dammeron Valley, 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 Dammeron Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Dammeron Valley are both $2504, found in the 84783 zip code.
Average Dammeron Valley Assessed Value
$696,500
Average Washington County Assessed Value
$457,600
Average Utah Assessed Value
$457,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dammeron Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84783 | $490,780 | $584,000 | $696,500 | $875,200 | $1,110,780 |
Source: Ownwell
Property Tax Bills Across Dammeron Valley, Utah
In Dammeron Valley, Washington 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 then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Dammeron Valley is $696,500, significantly higher than the national median. Consequently, homeowners in this area experience varied tax bills. For instance, the tax bill at the 25th percentile is $1,995, while at the 75th percentile, it rises to $3,266, and at the 90th percentile, it reaches $4,240. These tax bills reflect a range of factors, including property value, local government budgets, and specific levies for services such as schools and infrastructure. Homeowners in Dammeron Valley should be aware of these factors as they can significantly impact their annual financial obligations. Understanding how these elements interplay can help homeowners better anticipate and manage their property tax expenses.
Average Dammeron Valley Tax Bill
$2,504
Average Washington County Tax Bill
$1,953
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Dammeron Valley, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84783 | $1,638 | $1,995 | $2,504 | $3,266 | $4,240 |
Source: Ownwell