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Property Tax Calculation Example
If the Salt Lake City School District (a taxpayer service provider) approved a budget of $75,000 and the total taxable value of all property in the Salt Lake City School District was $15,000,000 then, if you live in that school district, the tax rate for the year would be calculated and show up on your official property tax notice as $75,000 /15,000,000 =.00500.
NOTE: When property values go up the certified tax rate goes down and conversely when property values go down the certified tax rate goes up. This method insures that all taxpayer services continue because the provider's budgets are funded.