Gunlock, Utah Property Taxes
The median property tax rate in Gunlock, Utah is 0.35%, significantly lower than both the national median of 0.99% and the Utah state median of 0.55%. With the median home value in Gunlock at $317,100, the typical annual property tax bill amounts to $1,128, which is well below the national median of $2,690. Property taxes in Gunlock are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Gunlock'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 Gunlock 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
Gunlock, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$1,110
Ownwell’s Gunlock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gunlock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gunlock 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 Washington County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Gunlock, Utah
Property taxes in Gunlock, Utah, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gunlock is 0.35%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Gunlock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gunlock 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 Gunlock's effective property tax rate to other counties in Utah and the national median. Understanding how these cities compare with Gunlock 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 Gunlock 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 Gunlock, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84733 | 0.32% | 0.34% | 0.35% | 0.60% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Gunlock, Utah
In Gunlock, 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 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 Gunlock, 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 Gunlock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 84733, both at $1128.
Average Gunlock Assessed Value
$317,100
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 Gunlock, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84733 | $116,240 | $204,400 | $317,100 | $410,300 | $616,020 |
Source: Ownwell
Property Tax Bills Across Gunlock, Utah
In Gunlock, Washington County, UT, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For a median home price of $317,100, the tax bill can vary significantly. Homeowners in the 25th percentile of tax bills pay around $831, while those in the 75th percentile pay approximately $1,519. The top 10% of tax bills can reach up to $2,782. The process of determining the tax bill involves assessing the property's value, applying the local tax rate, and considering any applicable exemptions or deductions. This system ensures that property taxes reflect the home's value and the owner's ability to pay. Compared to the national median property tax rate of 0.99%, Gunlock’s property tax rates provide a unique perspective on how local factors influence tax obligations. For homeowners, understanding these factors is crucial for managing their annual financial planning and ensuring they are prepared for their tax responsibilities.
Average Gunlock Tax Bill
$1,128
Average Washington County Tax Bill
$1,953
Average Utah Tax Bill
$2,492
Average United States Tax Bill
$2,690
Property Tax Bills Across Gunlock, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84733 | $408 | $831 | $1,128 | $1,519 | $2,782 |
Source: Ownwell