Oakley, Summit County, Utah Property Taxes
Median Oakley, UT effective property tax rate: 0.33%, significantly lower than the national median of 1.02%, but lower than the Utah state median of 0.55%.
Median Oakley, UT home value: $661,732
Median annual Oakley, UT tax bill: $2,476, $76 higher than the national median property tax bill of $2,400.
How are property taxes in Summit calculated?
Property taxes in Oakley, UT are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Oakley’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oakley, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Oakley, Summit County, Utah Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.33%
Estimate Property Tax Bill
$2,184
$2,026
Ownwell’s Oakley Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Oakley with just two data points. By entering your property's estimated assessed value, our calculator applies Oakley’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Summit County. For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Oakley, Summit County, Utah
Local government entities set property tax rates, leading to significant variations within a state. Each county estimates its budget for essential services and divides it by the total value of all taxable property within its jurisdiction to determine the property tax rate. This process, although influenced by votes and laws, is the annual routine for setting rates and budgets.
In Oakley, located in Summit County, Utah, the effective property tax rate is 0.33%. This is considerably lower than the national median property tax rate of 1.02%. Such a low rate can be particularly appealing to property owners, offering significant savings compared to areas with higher rates. When compared to the median property tax rate in Utah, Oakley's rate stands out as a more affordable option for homeowners. This makes Oakley an attractive location for those seeking to minimize their property tax burden while enjoying the benefits of property ownership.
Understanding these variations in property tax rates can help property owners make informed decisions about where to buy or invest in real estate.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Oakley Tax Rate
0.33%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Summit County Tax Rate
0.52%
Median Effective Utah Tax Rate
0.55%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Oakley, Summit County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84055 | 0.33% | 0.33% | 0.33% | 0.52% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Oakley, Summit County, Utah
When examining property taxes in Oakley, Utah, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Summit County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Summit County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Oakley. For example, the median home price in Oakley is $661,732, with tax bills ranging significantly across the county. Zip code 84055 has the highest median home price at $661,732.
Property Tax Assessment Values Across Oakley, Summit County, Utah
Source: Ownwell
$571,220
$1,195,296
$1,819,372
Median Oakley Market Value
$661,732
Median Summit County Market Value
$1,192,250
Median Utah Market Value
$457,600
Median United States Market Value
$235,294
Property Tax Assessment Values Across Oakley, Summit County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84055 | $319,076 | $469,288 | $661,732 | $867,765 | $1,583,177 |
Source: Ownwell
Property Tax Bills Across Oakley, Summit County, Utah
Median Oakley Tax Bill
$2,476
Median Summit County Tax Bill
$4,794
Median Utah Tax Bill
$2,492
Median United States Tax Bill
$2,400
Property Tax Bills Across Oakley, Summit County, Utah
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84055 | $1,347 | $1,933 | $2,476 | $3,578 | $6,406 |
Source: Ownwell