Arimo, Idaho Property Taxes
The median property tax rate in Arimo, ID is 0.44%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Arimo at $266,308, the typical annual property tax bill reaches $1,091, significantly lower than the national median of $2,690. Property taxes in Arimo are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Arimo's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Arimo or another part of Bannock County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Arimo, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,172
Ownwell’s Arimo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arimo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arimo to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Arimo, Idaho
Property taxes in Arimo, Idaho, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arimo is 0.44%, which is lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Arimo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arimo estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Arimo's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83214 has both the highest and lowest median property tax rate of 0.44%. Understanding how these cities compare with Arimo provides valuable insights into the varying tax landscape across Bannock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arimo Tax Rate
0.44%
Average Bannock County Tax Rate
0.67%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arimo, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83214 | 0.22% | 0.36% | 0.44% | 0.58% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Arimo, Idaho
In Arimo, Idaho, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Bannock County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Arimo, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Arimo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest and lowest median tax bills in Arimo are both $1,091 in zip code 83214.
Average Arimo Assessed Value
$266,308
Average Bannock County Assessed Value
$263,380
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arimo, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83214 | $47,422 | $179,147 | $266,308 | $363,197 | $515,761 |
Source: Ownwell
Property Tax Bills Across Arimo, Idaho
In Arimo, Bannock County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by local county assessors. The tax rate is applied to this assessed value to generate the tax bill. For instance, with a median home price of $266,308, property taxes can vary significantly. Homeowners in Arimo can expect their tax bills to range widely. At the 25th percentile, tax bills are around $653, while at the 75th percentile, they reach approximately $1,676. The top 10% of tax bills can go up to $2,298. Interestingly, the highest and lowest median tax bills in the area are both recorded at $1,091 in the 83214 zip code. These tax bills impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Arimo's property taxes can be seen as relatively moderate, offering a balanced approach for residents.
Average Arimo Tax Bill
$1,091
Average Bannock County Tax Bill
$1,810
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Arimo, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83214 | $257 | $653 | $1,091 | $1,676 | $2,298 |
Source: Ownwell