FAQ: Property Taxes in Summit County, Utah

Over the past 20 years of representing homeowners in Summit County Utah, I have been asked all sorts of questions regarding property taxes. Below is a quick explanation of the process, and FAQ of everything you need to know. Call me at 435.901.0533 if you have a specific question on your property or your personal situation.

In order to determine the tax bill, your local tax assessor’s office takes into account the property’s assessed value, the current assessment rate, as well as any tax exemptions or abatements for that property. The County Assessor is the official who is responsible for evaluating all property at its respective fair market values for the purpose of taxation.

Market Value
The Summit County Assessor’s Office determines the actual values, also known as market values for all taxable property in Summit County. Market value has been defined by The Supreme Court as the sale price of real estate as agreed upon between a willing buyer and willing seller, with neither being under duress to buy or sell.

For example:
Land value $180,000
Improvement value +$755,371
Market value = $935,371

Assessed Value
Assessed value is calculated by multiplying the market value with the corresponding assessment ratios: qualified primary residential properties are taxed at 55% of their assessed market value, while other types of real property are taxed at 100% of their assessed market value.

All homeowners, example:
Land assessed value $180,000
Improvement assessed value +$755,371
Taxable Assessed value = $935,371

Qualified primary residential property owner, example:
Land assessed value $180,000
Improvement assessed value +$755,371
Ratio = $935,371 multiplied by 55%
Taxable Assessed value = $514,454

Property Tax
Property tax is calculated by multiplying the property’s taxable value by all the tax rates applicable to it.

Most Current Property Tax Rates
Municipalities:
Coalville 0.003440
Francis 0.002236
Henefer 0.001071
Kamas 0.001847
Oakley 0.001417
Park City 0.001972
Summit County Municipal (Unincorporated) 0.000617

County-Wide:
County General 0.000767
Multi-County Assessing & Collecting 0.000012
Local Assessing & Collecting 0.000193

School Districts:
North Summit School District 0.006193
Park City School District 0.004461
South Summit School District 0.006322

Fire Districts:
North Summit Fire District 0.000586
Park City Fire District 0.000841
South Summit Fire District 0.000304
Wildland Fire 0.000249
Other Service Districts:
Weber Basin Water 0.000199
Central Utah Water 0.000405
South Summit Cemetery 0.000194
Wanship Cemetery 0.000080
Hoytsville Cemetery 0.000061
Mosquito Abatement 0.000035
Snyderville Basin Recreation 0.000698
Snyderville Basin Recreation Bond 0.000405
Service Area #3 0.001544
Service Area #5 0.002330
Service Area #6 0.000528
Service Area #8 0.006131

Property Tax Example for a Home In Park City:
Area: PARK CITY RESIDENTIAL PRIMARY IMPROVED
Tax Rate: 0.0080340000
Actual Lot $150,000
Assessed Lot $82,500
Actual Improvements $537,108
Assessed Improvements $295,409
Total Value $687,108
Assessed Value $377,909
Taxes $3,036.12

FAQ:
1. In summary, what is currently the Summit County Tax Rate?
Above is the most recent (as of Spring 2017) tax rates in Summit County. Depending on which neighborhood you live in, you’ll have some of those rates posted above apply to your property and some do not. In general, as compared to other states, Utah, specifically Summit County, as one of the lowest tax rates. It’s often times under 1%. In the actual example above of a 2016 Property in Park City, the tax rate is 0.008034000

2. How do I qualify for Primary Residence Exemptions? If I have a long term, year round lease, does it apply?
If you live in the home or condominium full time, simply fill out the Signed Statement of Primary Residence and return it and copy a current driver’s license, to the Assessor’s office. Signed statements must be received before May 1st of the tax year to receive the exemption for that tax year.

3. What if I rent the property on a full time basis, does that qualify for Primary Residence Exemption?
If the property is rented on a full time basis, you must provide a copy of the current lease along with the signed Statement of Primary Residence statement.

4. My property is rented long term for most of the year but I rent it nightly for Sundance and the ski season, can I still receive the primary exemption?
No. Properties that are rented nightly more then 14 nights a year cannot receive the primary residence exemption.

5. What is the discount for homeowners who live in Park City full time?
Qualified primary residential properties are taxed at 55% of their assessed market value, while other types of real property are taxed at 100% of their assessed market value. Therefore, it’s approximately a 45% discount.

6 What is the timeline to appeal market values or primary residence status?
Property owners who wish to appeal the market value shown on the “Summit County Notice of Property Valuations and Tax Change” must file an appeal on or before September 15th, or within forty five (45) days of original mailing of the disclosure notice.

7. When are taxes due?
November 30th

8. The real market value of my home (what I can list it for, and sell it for) is different than what the Assessor’s Office is stating. What should I do?
Depending on if it’s higher or lower than the County Assessor’s value, you have some options, Please email info@hongmcdonald.com or call at 435.901.0533 and Hong McDonald will share her 14 years of experience appealing the values to lower your property tax, and/or guide you through this decision.

For the most recent tax rates, exemptions, and all questions pertaining to your real estate property values, call Hong McDonald at 435.901.0533