Utah mortgage payment calculator

Utah at a glance

Median home price

$534,300

Typical closing costs

2%–4% of price

Transfer tax

None

Closing custom

escrow

Homestead exemption

Utah does not have a traditional dollar-value homestead exemption. Instead it exempts 45% of a primary residence's fair market value from property taxation statewide (only 55% of value is taxed) via the Primary Residential Exemption — this is the main driver of Utah's low effective property tax rate relative to its nominal/nominal-value tax rates. Generally applies to a residence and up to 1 acre of land; second homes, rentals, and vacant land do not qualify. Most counties require a one-time application/affidavit confirming primary-residence status when a home changes hands or use changes, though the exemption itself, once on file, does not need to be renewed annually in most counties — exact administrative process (initial application vs. fully automatic) varies slightly by county assessor; confirm with your county assessor's office.