Don’t Pay More Than You Should: Understanding Property Taxes in Utah

By Doug Cary

Doug Cary has been selling real estate in Davis County since 2005. He is a 2nd generation top producing Real Estate Agent.

As a homeowner in Utah, you have likely received your property tax statement from the county assessor’s office, outlining the assessed value of your property and the taxes you owe for the year. Surprisingly, for about 95% of homeowners I’ve spoken to, property tax values have decreased this year, which is a welcome relief.

However, it’s essential to understand that the value stated on this tax statement does not necessarily reflect your property’s true market value. As real estate agents, we know that buyers never rely on these statements when assessing a property’s worth. Instead, the crucial question to ask is whether your property would have sold for the stated value in January of this year.

If the value aligns with the market, that’s excellent. But if you believe the stated value is unrealistic and your property wouldn’t have sold for that amount, it might be worth considering an appeal. I’ve been helping homeowners appeal their property tax assessments for 18 years and have assisted hundreds of people in saving money on their taxes.

For the majority of homeowners, the assessed value is fair and even below the market value. However, I recently encountered a situation where a client’s tax notice arrived one day after we listed their house for sale. Unfortunately, the assessed value was $50,000 higher than the market value in January. This means they have been paying more in taxes than necessary.

As an advocate for homeowners, I believe that no one should pay more taxes than they should, especially seniors on fixed incomes. If you have any doubts about your property’s assessed value or need assistance with an appeal, don’t hesitate to call or email me. 

Feel free to share this information with anyone you know who might be in need, particularly seniors on fixed incomes. Together, we can ensure that homeowners are paying fair and accurate property taxes based on real market values.