When purchasing property in St George, real estate property tax questions always become a question buyers want information about.
How Much Are St George Utah Property Taxes?
The exact amount of the taxes varies depending on where you purchase (school district fees and rates will differ minimally in different areas). However, as a rule of thumb, you can estimate the taxes at about 1% of the assessed value LESS any exemptions (more on that in a moment). The assessment comes from the county, and it is NOT based on your purchase price; however, should YOU disclose that price to the assessor, they may take that into consideration (Utah is a non-disclosure state, so the purchase price does not become public record—this is why venues such as Zillow's "Zestimate" is typically inaccurate, do not use Zillow Zestimate for property in St George). The assessor will monitor area values, and if the values should rise or fall, your property value will be assessed accordingly, and you will be sent a summary each year.
My Property Values Have Changed, Why Are My Property Taxes Higher?
A property owner's taxes WILL fluctuate yearly (though typically not a substantial amount). If the values move up, so will your taxes. Ironically, if the property values in St George go down…your taxes may only decrease a minor amount…if at all. The city has a program to protect them from any tax shortage; this way, their budget won't necessarily be affected if values substantially fall. Property can be assessed inaccurately, homeowners should review their tax summary each year where they will see the assessed value, and if needed, the homeowner can dispute the value, which is a relatively straightforward process. Homeowners can contact any St. George real estate agent (I receive several requests each year) and ask for a few recent comparable sales within the neighborhood. Two or three recent sales similar to the disputed property should be sent in with an "Application for Review of Market Value." These items should be sent in before the city's yearly deadline if you attempt to reduce your property tax for the current year (paid each November).
St George Utah Property Tax Rates
Back to the St George property tax calculation, generally, the amount is very close to 1% of the assessed value for the current year (as a real estate agent, I always provide my buyers with the current assessed value of any property they have an interest in). Suppose the buyer plans to make their Washington County home their PRIMARY RESIDENCE. In that case, the homeowner will pay only 55% of that tax (so they will receive a 45% exemption as a primary resident). If the buyer plans to use the home as a vacation home or a second home, that homeowner will pay 100% of the assessed market value tax.
Do I Qualify For the Primary Residence Exemption?
The plain and simple explanation of "Primary Residence" is…you live in the home. Suppose you have another home elsewhere and plan to split the time somewhat evenly (or you're looking for the exemption loophole). In that case, the second most straightforward way to determine which home will be your primary residence is: where will you claim "home" on your taxes? Where will you have a driver's license? If the answers to these questions are your St George home…then congratulations…you live in St George and qualify for the primary residence exemption. If you work elsewhere, vote elsewhere, have a driver's license in another location, but you visit your St George home once a week… I'm sorry…this is still considered a "second home," and you'll be paying full taxes.
Other tax relief programs include: seniors 65+ who make LESS than $30,700 as annual income, veterans who were disabled while in military service, and owners who are legally blind. Applications for exemptions can be found on the county assessor's website.
If you're ready to purchase a home in St George Utah, or if you'd like comparable sales to know how much your St George home is worth (or to dispute your taxes), contact Paula Smith today.
