I have written about property taxes here and here. Generally, we start to think about property taxes in August, when the tax assessor sends the official “Notice of Assessed Value.” It’s very important to pay close attention to this document as you will see not only the assessed value of your property, but your tax rate. You will be assessed at the primary (0.55% of assessed value) tax rate if you are a primary resident or if you rent your property to a primary resident. Vacant land is always taxed at the 1% non-primary rate (without the 45% primary resident discount.)
If you purchased a property through me this year, I informed you that after July 1st, it’s difficult to get your property re-assessed to the primary rate if the person you purchased the property from was paying the non-primary rate. Since July 1st is rapidly approaching, this is your reminder. Make sure the assessor is taxing you at the proper rate.
But did you know there are other tax relief programs in Summit County? If you qualify, you must apply for these programs by September 1, 2021. You must apply annually to qualify for these programs. Information can be found here on the Summit County website.
- Circuit Breaker – Age & income-based, 66 years old or surviving spouse with household income up to $34,666.
- County Hardship Abatement – 65 years old, or any age disabled, or any age in extreme hardship, with income and adjusted assets that do not exceed $34,666.
- Blind Exemption – legally blind in both eyes, or unmarried surviving spouse or minor orphan of a legally blind person
- Active Duty Military – deployed outside of Utah for 200 plus days
- Veteran with a Disability – VA disability rating of at least 10%
The Treasurer’s page on the Summit County website has a host of additional resources. You can pre-pay your 2021 property taxes, set up recurring tax payments, or change your mailing address. Here is the link to the Wasatch County Assessor’s page, where you can check online if you are being taxed at the primary or non-primary tax rate.
And if you have a mortgage, be sure to check if taxes are being collected by your bank! I made this mistake last year on one of the properties we own. It took about a month for the county to realize it had been double paid and to refund my money.
When you receive your notice in August about the assessed value of your home, as always, feel free to contact me if you think the assessed value is too high. I have prepared many successful appeals for clients and friends and can let you know if you have a shot at a successful appeal.