Example of Utah County Property Tax Calculation
Utah County calculates property taxes based on the tax rate set by the governing bodies in the county. The property tax is determined by multiplying the assessed value of the property by the tax rate.
For example, if a property in Utah County has an assessed value of $200,000 and the tax rate is 0.008, the property tax would be calculated as follows:
$200,000 x 0.008 = $1,600
Therefore, the property tax for this property would be $1,600.
It's important to note that the assessed value of a property is determined by a county assessor and is based on the market value of the property. If the property's value changes, the assessed value and the property tax may also change.
If you want appeal your property tax assessment - contact your local tax assessor.
Utah County Property Tax Rates
Here is a formatted table that lists the Utah County Property Tax rates in US dollars per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $0.008741 |
| County Bond | $0.001913 |
| County Library | $0.001757 |
| County Municipal Services Fund | $0.000975 |
| County Special Service Area | $0.003944 |
| Alpine School District | $0.005734 |
| Nebo School District | $0.006296 |
| Central Utah Water Conservancy District | $0.002140 |
Please note that these rates are subject to change and may vary depending on your specific location within Utah County. It is recommended to consult a tax professional for more detailed and up-to-date information.
Who sets property tax rates in Utah County ?
Who and when sets property tax rates in Utah County?
In Utah County, the property tax rates are set by the county government. Specifically, the County Commission approves the tax rates each year during their budget meetings.
The exact timing of these meetings can vary from year to year, but they generally take place in the late summer or early fall. This allows the county to calculate the revenue needed for the upcoming fiscal year and set the tax rates accordingly.
Property taxes play a crucial role in funding important services such as schools, roads, and public safety. As a tax advisor, it's important to stay up-to-date on the latest tax rates and regulations in Utah County to ensure your clients are paying the correct amount and taking advantage of any available deductions or exemptions.
When is Utah County Property Tax due ?
Utah County Property Tax typically follows a set deadline for payment. Here's what you need to know:
Utah County Property Tax Payment Deadline
The due date for Utah County Property Tax is November 30th of each year.
Payment Methods
There are several payment methods available to Utah County property owners:
| Payment Method | Details |
|---|---|
| Online | Payment can be made online through the Utah County Treasurer's website using a Visa or Mastercard debit/credit card or eCheck. |
| Property owners can mail their payment to the Utah County Treasurer's Office at the address listed on the tax notice. | |
| In-Person | In-person payments can be made at the Utah County Treasurer's Office during business hours. Accepted payment methods include cash, check, Visa or Mastercard debit/credit card. |
It's important to note that if payment is not received by the due date, penalties and interest will be assessed.
To avoid penalties, it's recommended that property owners pay their taxes early or on time. If you have any questions regarding Utah County Property Tax, contact the Utah County Treasurer's Office for assistance.
If you have more questions - contact your local tax collector.
Homestead exemptions in Utah County ?
In Utah County, homeowners may be eligible for various Homestead exemptions and deductions. To help you understand the options available, here is a table of the county-specific exemptions and deductions:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Any homeowner who occupies their residence as their primary residence on January 1 of the tax year. | $2,500 of the assessed value of the property | This exemption applies to all qualifying properties. |
| Disabled or Blind Exemption | Homeowners who are legally blind or have a permanent disability, as well as surviving spouses of qualifying individuals. | Up to $4,000 of the assessed value of the property | This exemption applies to all qualifying properties. |
| Senior Citizen Exemption | Homeowners who are 66 years of age or older and meet certain income requirements. | Up to $4,000 of the assessed value of the property | This exemption applies to all qualifying properties. |
| Property Tax Abatement for Veterans | Veterans who are 20% or more disabled due to their military service. | Varies based on level of disability and income | This program provides a tax abatement rather than an exemption. |
| Exemption for Surviving Spouses of Emergency Personnel | Surviving spouses of emergency personnel who died in the line of duty. | $1,000 of the assessed value of the property | This exemption applies to all qualifying properties. |
It's important to note that some exemptions and deductions may require an application process and have specific deadlines. Homeowners should contact the Utah County Assessor's office for more information on eligibility and application requirements.
How is Utah County Property Tax penalty calculated ?
Utah County Property Tax Penalty Calculation
Property owners in Utah County are required to pay their property taxes by November 30th each year. Failure to pay these taxes by the due date will result in a penalty being added to the total amount owed. This penalty is calculated as a percentage of the unpaid balance and is added on a monthly basis until the taxes are paid in full.
To calculate the penalty for late property tax payments, Utah County uses the following formula:
Penalty = (1.5% * Unpaid Balance) + Interest
The interest rate used to calculate the interest portion of the penalty is set by the State of Utah and is adjusted annually in July. As of 2021, the interest rate is 7%.
For example, if a property owner in Utah County owes $5,000 in property taxes and fails to pay by the due date, the penalty for the first month would be:
Penalty = (1.5% * $5,000) + (7% * $5,000 / 12)
Penalty = $75 + $29.17
Penalty = $104.17
If the property owner still hasn't paid after one month, another penalty will be added for the second month, and so on until the taxes are paid in full.
In summary, Utah County property tax penalty is calculated as a percentage of the unpaid balance, plus interest, and is added on a monthly basis until the taxes are paid in full. It is recommended that property owners pay their property taxes on time to avoid these penalties.
We recommend contacting the Utah County Tax Office or a local tax professional for the most up-to-date and accurate information.