Utah Property Tax Calculator

Michigan Property Tax Calculator

Michigan Property Tax Calculator

Estimate your property taxes based on Michigan's assessment rates and mill rates

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Property Details
2
Location
3
Owner Info
4
Exemptions
5
Results
Michigan Assessment Rates
Michigan assesses properties at 50% of true cash value with an average effective property tax rate of ~1.15%. Taxable value increases are capped at 5% per year or the rate of inflation, whichever is less.

Property Details

Enter the true cash value (market value) of your property in USD

Please enter a valid true cash value

Enter the previous year's taxable value (if known)

Current inflation rate (default: 2.3%)

Different property types have different tax rates in Michigan

Please select a property type

Enter the total square footage of the property

Please enter valid square footage

Enter the total acreage of the property

Please enter valid acreage

Enter the year the property was constructed

Please enter a valid year

The year for which you want to calculate property taxes

Please select an assessment year

Principal residences qualify for the Principal Residence Exemption (PRE)

Recent purchases may trigger a taxable value "uncapping"

Location Information

Your county determines some of your tax rates

Please select a county

Your city/township determines your local millage rates

School districts have their own millage rates

Special assessment districts may have additional millage rates

Owner Information

Your ownership status may affect exemption eligibility

Please select an ownership status

Enter how many years you've owned the property

Please enter a valid duration

Enter owner's age (required for certain exemptions)

Please enter a valid age

Required for Homestead Property Tax Credit eligibility

Disabled veterans may qualify for property tax exemptions

Seniors may qualify for additional property tax credits

Exemption Eligibility

Check all exemptions that apply to your property

Exempts property from up to 18 mills of school operating taxes

100% exemption for qualifying disabled veterans

For low-income homeowners who meet local guidelines

State income tax credit for qualifying homeowners and renters

Exempts property from up to 18 mills of school operating taxes

For qualifying industrial properties

For qualifying residential properties in designated zones

For qualifying rehabilitated commercial properties

For qualifying rehabilitated obsolete properties

Property Tax Assessment Results

Assessment Summary

True Cash Value: $0
State Equalized Value (SEV): $0
Previous Taxable Value: $0
Capped Value Increase: $0
Current Taxable Value: $0

Millage Rate Information

County Operating Millage: 0.00
City/Township Millage: 0.00
School Operating Millage: 0.00
School Debt Millage: 0.00
State Education Tax: 6.00
Special Assessment Millage: 0.00
Total Millage Rate: 0.00

Tax Calculation

County Tax: $0
City/Township Tax: $0
School Operating Tax: $0
School Debt Tax: $0
State Education Tax: $0
Special Assessment Taxes: $0
Total Property Tax: $0
Homestead Property Tax Credit: $0
Net Annual Tax Amount: $0
Effective Tax Rate: 0.00%

Payment Information

Summer Tax Due: $0
Winter Tax Due: $0
Summer Tax Due Date: July 1 (payable by September 14)
Winter Tax Due Date: December 1 (payable by February 14)

Disclaimer: This calculator provides an estimate of property taxes based on the information provided. Actual tax amounts may vary. Please consult with your local tax assessor's office for official tax information.

Use our free Utah Property Tax Calculator to quickly determine your yearly property tax obligation in Utah. To obtain an accurate estimate of your tax bill, regardless of whether you are a landowner, business owner, or homeowner, simply enter the location, fair market value, and whether your property serves as your primary residence.

What’s Utah Property Tax Calculator?

Definition:
A financial tool called the Utah Property Tax Calculator assists property owners in estimating their yearly property tax by taking into account the property’s fair market value, location (county and specific tax area), primary residence status, and any other exemptions. It is designed to work with Utah’s revenue-based property tax system, which includes county, municipal, and school taxes.

Why It Is Important:
In Utah, property taxes are a major outlay for landowners and help pay for vital community services like roads, schools, and emergency response. Budgeting, financial planning, and making wise decisions regarding property ownership are all aided by knowing your property tax liability. With an average effective rate of 0.55% and a median annual tax of $1,351 for a home valued at $224,700, Utah has comparatively low property taxes when compared to many other states.

A Synopsis of History:
Since the beginning, property taxes have been a component of Utah’s tax structure, changing to accommodate local governments’ demands. A predictable amount of revenue is received annually by taxing entities thanks to the Truth in Taxation legislation, which was passed in 1985 and changed the property tax system from a rate-based to a revenue-based model.

This system ensures transparency and control over tax increases by requiring public hearings for any increases in tax revenue. To lessen the tax burden on homeowners, the primary residential exemption was created, which permits a 45% reduction in taxable value for owner-occupied homes.

How the Property Tax Formula Operates

For primary residences:

Taxable Value=Fair Market Value×0.55\text{Taxable Value} = \text{Fair Market Value} \times 0.55 Property Tax=Taxable Value×Tax Rate\text{Property Tax} = \text{Taxable Value} \times \text{Tax Rate}

For commercial or non-primary residential properties:

Fair Market Value=Taxable Value\text{Fair Market Value} = \text{Taxable Value} Property Tax=Taxable Value×Tax Rate\text{Property Tax} = \text{Taxable Value} \times \text{Tax Rate}

Where:

  • Fair Market Value: The county assessor’s assessment of your property’s worth, usually as of January 1st of the tax year.
  • Tax Rate: Usually stated as a percentage or dollars per $100 of taxable value, the combined rate for your tax area is determined by the local governments (county, municipality, school district, etc.).

In Detail

  1. Calculate Fair Market Value:
    Consult your property tax statement or the county assessor’s office to find the fair market value of your property.
  2. Determine the Type of Property:
    Indicate whether the property is a primary residence, secondary residence, business, or something else, as this has an impact on the taxable value.
  3. Apply the Primary Residence Exemption:
    To determine the taxable value (55% of the fair market value), deduct 45% from the fair market value if the property is your primary residence and you occupy it for at least 183 days in a year.
  4. Determine the Tax Rate:
    Visit the website of your county or the Utah State Tax Commission to find the tax rate for your tax area.
  5. Use Extra Exemptions:
    If there are any additional exemptions (such as those for veterans or seniors), deduct them from the taxable value.
  6. Determine the Tax:
    Your annual property tax is calculated by multiplying the taxable value by the tax rate.

Important Components & Inputs

Definition of Input Description
Value at Fair Market The county assessor’s estimate of your property’s market value
Type of Property Commercial, primary, secondary, or other
Where The county and particular tax region in which your property is situated
Tax Rate Local governments determine the combined tax rate per $100 of taxable value
Exclusions Reductions such as the primary residential exemption of 45% or others (e.g., senior, veteran)

Cost and Output Types

What the Output Means Description
Value Subject to Taxation The amount after deductions (such as 55% for primary residences) are applied
Property Tax Per Year Your annual total tax bill
Tax Rate Distribution The total amount of taxes due at the county, city, and school district levels
Savings Exemption The sum saved as a result of exemptions (for example, primary residences, 45% of fair market value)

Sample Calculations & Example Scenarios

The approximate median effective property tax rates by county are used in the sample calculations below for various properties throughout Utah. The median property taxes paid as a percentage of median home values serve as the basis for these rates.

# Type of Property Fair Market Value The county’s effective rate Annual Tax for Primary Residence
1 One $400,000 residence Salt Lake 0.62% $2,480
2 $300,000 for two residences Utah 0.57% $1,710
3 Three $250,000 residential Washington 0.50% $1,250
4 $350,000 for residential Davis 0.58% $2,030
5 $5,000,000 in commercial Weber 0.55% N/A $2,750

For instance, Example 1:

  • $400,000 is the fair market value.
  • 45% exemption for primary residence ($400,000 × 0.45 = $180,000 exempt)
  • $400,000 × 0.55 = $220,000 is the taxable value.
  • Effective Rate: 0.62% (estimated directly)
  • Tax per year: $400,000 × 0.0062 = $2,480

For Illustration 4:

  • $350,000 is the fair market value.
  • Principal Home None (not a primary residence) is an exemption.
  • $350,000 is the taxable value.
  • Rate of Effectiveness: 0.58%
  • $350,000 × 0.0058 = $2,030 is the annual tax.

Interactive Tables and Charts Analysis of a $400,000 Salt Lake County Primary Residence Residential Property

Amount of Components

  • $400,000 is the fair market value.
  • $180,000 (45%) is the primary residence exemption.
  • $220,000 is the taxable value.
  • 0.62% is the effective tax rate.
  • $2,480 in property taxes per year

Pie Chart: Distribution of $400,000 in Property Taxes

  • Approximately 0.62% of fair market value is the property tax.
  • Primary Residence Exempted Value: 45%
  • Remaining Non-Taxable Value: approximately 54.38%

(Note: The effective tax rate and primary residence exemption are used to approximate estimates in the pie chart.)

Commonly Asked Questions (FAQs)

Q1: What is the fair market value of my property?
A: Check your property tax statement, which is usually sent in November (tax notice) or July (valuation notice), or get in touch with your county assessor’s office. The county assessor determines the fair market value every year, taking into account the state of the market.

Q2: Which residential exemption is the main one?
A: Primary residences in Utah that are occupied for 183 days or more in a year are exempt from paying taxes on 45% of their fair market value. If the property is listed as your primary residence on your valuation or tax notice, this exemption is applied automatically.

Q3: Are there any additional exemptions?
A: Seniors (66 years of age or older), people with disabilities, veterans, and nonprofit organizations may be eligible for exemptions; however, these may have income or other requirements and require specific applications. For more information, speak with your county assessor.

Q4: What is the calculator’s accuracy?
A: Estimates from the calculator are based on the county-specific median effective property tax rates. Use the precise tax rate for your tax area and the exact fair market value of your property, which can be found on the websites of your county or the Utah State Tax Commission, for accurate computations.

Q5: In Utah, when are property taxes due?
A: The usual deadline for property taxes is November 30 of each year. For precise deadlines, check with the office of your county treasurer.

Q6: What causes a county’s tax rates to differ?
A: The specific tax area, which includes various taxing entities like counties, municipalities, and school districts, determines the tax rates. According to Utah’s Truth in Taxation laws, each entity determines its own rate to meet budgetary requirements and maintain steady revenue.

The Utah Property Tax Calculator: Why Use It?

With one of the lowest average effective rates in the United States (0.55%), Utah’s property tax system is intended to be clear and predictable. Homeowners’ tax burden is further decreased by the primary residential exemption. But since rates differ by county and tax jurisdiction, precise estimation is crucial.

Whether you’re a business owner in Park City or a homeowner in Ogden, this calculator helps you manage these differences, calculate your tax liability, and plan for exemptions so you can make an efficient budget

Find other property tax calculators for other states of USA here: