Are you curious about the Utah County property tax increase? There’s a lot of confusion about this tax increase, so I borrowed this example to help you understand it more clearly. From The Daily Herald–
“Here’s an example of how the property taxes in Utah County work: If a house is valued at $334,000, 55% percent of this value is taxed after accounting for homeowner tax exemptions. The Utah County general levy gets 6.8% percent of the $1,989 total property tax, which comes out to $123.45 in revenue annually.
This number would double under the commission’s proposal, meaning the homeowner in this scenario would receive an annual bill of $246.90.”
So, while taxes are going up, the overall cost will be fairly manageable for most families.