New Tool To See If Your Utah Home Value Has Dropped
Home prices have gone up in the past few years here in Southern Utah and with that increase, residents can find themselves with higher taxes even though their mortgage rate remains the same.
Accessing information on your home and how it is assessed each year is important.
In an effort for more transparency, the Office of the State Auditor for the State of Utah has released a new tool where you can type in your address and see your home’s value. It also shows you how that relates to the year prior. This new tool uses data from the Utah’s county assessors and can be found at propertyvalues.utah.gov.
I typed my address into the site and discovered my home in Washington has dropped $16,000 in value. Not good for my equity, but maybe I’ll save on my taxes.
It's nice to have this transparency from the state. From the news release, State Auditor John Dougall stated:
“The release of the new Property Values Tool brings greater transparency to Utah taxpayers. The Utah constitution requires uniform and equal treatment of properties in Utah. This tool will help Utahns better monitor that effort. We appreciate the support of the many dedicated and hardworking county assessors and their interest in greater transparency. I'd especially like to thank Chris Stavros, Salt Lake County Assessor, for his excellent feedback, responsiveness in sending and improving data, and his vision for how greater transparency can improve county assessment processes."
It should be noted that the 2023 valuations are preliminary and won’t be completed until later this year. There is also a way to appeal valuations that homeowners don’t believe to be fair.