Example of Davis County Property Tax Calculation
To calculate Davis County Property Tax, the county's Assessor's Office first determines the assessed value of the property. This is done by evaluating the market value of similar properties in the area, as well as any improvements made to the property.
Once the assessed value is determined, the county applies a tax rate to that value to calculate the property tax owed. The tax rate can vary depending on the location and category of the property. For example, residential properties may have a lower tax rate than commercial properties.
To provide an example, let's say a residential property in Davis County has an assessed value of $200,000 and a tax rate of 0.005 (0.5%). To calculate the property tax owed, you would multiply the assessed value by the tax rate:
$200,000 x 0.005 = $1,000
Therefore, the property owner would owe $1,000 in property taxes for the year. It's important to note that property tax rates and assessed values can change from year to year, so it's always a good idea to check with the county Assessor's Office for the most up-to-date information.
If you want appeal your property tax assessment - contact your local tax assessor.
Davis County Property Tax Rates
The Davis County Property Tax rates are listed below:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Residential | $0.008773 |
| Commercial | $0.017144 |
| Industrial | $0.016292 |
| Agricultural | $0.007747 |
It is important to note that these rates may vary depending on the specific location within Davis County, so it is recommended to consult with a local tax advisor for accurate and up-to-date information.
Who sets property tax rates in Davis County ?
The property tax rates in Davis County are set by the Davis County Commission. This occurs annually as part of the budget process. The County Commission is made up of three elected officials responsible for overseeing the county's finances and operations. The property tax revenue generated from these rates is used to fund various county services such as schools, roads, public safety, and more. It is important for residents in Davis County to stay informed about property tax rates and how they are being used to benefit the community.
| Topic | Information |
|---|---|
| Who sets property tax rates in Davis County? | The Davis County Commission |
| When are property tax rates set? | Annually as part of the budget process |
| What is the purpose of property tax revenue? | To fund county services such as schools, roads, and public safety |
| Why is it important for residents to stay informed? | To understand how property tax rates are being used to benefit the community |
Homestead exemptions in Davis County ?
To help Davis County, Utah residents understand their Homestead exemptions and deductions, we've compiled a table that outlines all the essential details. Check out the table below:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Basic Homestead Exemption | Primary residence of homeowner | $2,500 | Reduces taxable value of property |
| Blind Exemption | Blind homeowners | $3,000 | May be combined with Basic Homestead Exemption |
| Circuit Breaker Exemption | Income less than $31,820 and 65 years or older OR disabled | Varies | Reduces taxes based on income |
| Military Exemption | Active duty military members, reserves, or veterans | Varies | Based on disability rating and military status |
| Personal Property Exemption | Utah residents | $3,500 | Exempts personal property from taxation |
| Widower's Exemption | Surviving spouse | $2,500 | Only eligible for one year after spouse's death |
Note that the eligibility requirements and amount of each exemption may vary depending on individual circumstances. Residents should contact their county assessor's office to determine their eligibility and apply for any applicable exemptions or deductions.
When is Davis County Property Tax due ?
Davis County Property Tax is typically due on November 30th of each year.
To make a payment, taxpayers have several options available to them, including:
- Online Payment: Taxpayers can pay online using an e-check or credit card through the Davis County Treasurer's website.
- Mail: Taxpayers can mail a check or money order to the Davis County Treasurer's Office.
- In-Person: Taxpayers can pay in person at the Davis County Treasurer's Office using cash, check, or credit card.
It is important to note that failure to pay property taxes by the due date may result in penalties and interest charges. Taxpayers should plan accordingly to ensure on-time payments and avoid additional fees.
If you have more questions - contact your local tax collector.
How is Davis County Property Tax penalty calculated ?
Davis County Property Tax Penalty Calculation:
The property tax penalty in Davis County is calculated based on the amount of property taxes owed, the length of time the taxes have been delinquent, and any applicable interest rates.
For example, let's say a property owner owes $2,500 in property taxes for the year 2020, and they fail to pay by the due date of November 30, 2020. In this case, the penalty calculation would be as follows:
- Initial Penalties: The property owner would be charged a 1% penalty on the unpaid taxes for December, which would be $25 (1% of $2,500).
- Additional Penalties: Each subsequent month that the taxes remain unpaid, an additional 1% penalty would be added to the amount owed. So if the taxes are still unpaid on January 1, 2021, the penalty would increase to 2% (1% for December and 1% for January), making the total penalty $50.
- Interest: In addition to the penalties, the property owner would also accrue interest on the unpaid taxes at a rate of 1% per month (or 12% per year). So if the taxes are still unpaid by March 1, 2021, the total amount owed would be $2,675, which includes the original $2,500 in taxes, plus $175 in penalties and $25 in interest.
It is important to note that Davis County may also assess additional fees and costs for delinquent property taxes, such as collection fees, court costs, and attorney fees. These can vary depending on the circumstances and should be reviewed carefully.
Overall, property owners in Davis County should make every effort to pay their property taxes on time to avoid incurring penalties and interest, as well as any additional fees and costs.
We recommend contacting the Davis County Tax Office or a local tax professional for the most up-to-date and accurate information.