Montpelier, Idaho Property Taxes
The median property tax rate in Montpelier, Idaho is 0.39%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Montpelier, the typical annual property tax bill reaches $879, well below the national median of $2,690. Property taxes in Montpelier 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 Montpelier'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 Montpelier or another part of Bear Lake County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montpelier, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$811
Ownwell’s Montpelier Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montpelier with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montpelier 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 Montpelier, Idaho
Property taxes in Montpelier, Idaho, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Montpelier is 0.39%, significantly lower than the U.S. national median of 0.99%. Local government entities within Montpelier set these rates annually, and they can vary across different neighborhoods. Each year, Montpelier 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. Understanding how Montpelier's property tax rate compares to other areas provides valuable insights into the varying tax landscape across Bear Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Montpelier Tax Rate
0.39%
Average Bear Lake County Tax Rate
0.36%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montpelier, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83254 | 0.23% | 0.34% | 0.39% | 0.52% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Montpelier, Idaho
In Montpelier, 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 Bear Lake 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. 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. The median home price in Montpelier is $207,892, with tax bills ranging from $655 at the 25th percentile to $1,664 at the 90th percentile. The zip code 83254 has the highest and lowest median tax bill at $879. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Montpelier Assessed Value
$207,892
Average Bear Lake County Assessed Value
$278,628
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montpelier, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83254 | $94,538 | $147,810 | $207,892 | $294,905 | $399,486 |
Source: Ownwell
Property Tax Bills Across Montpelier, Idaho
In Montpelier, property tax bills are calculated based on the assessed value of a home, which is determined by local property assessors. The median home price in Montpelier is $207,892. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as property size, location, and any improvements or renovations can influence the assessed value. Homeowners in Montpelier typically see tax bills ranging from $655 at the 25th percentile to $1,245 at the 75th percentile, with the 90th percentile reaching up to $1,664. The median tax bill in the area is $879, which is lower than the national median property tax rate of 0.99%. This relatively lower tax burden can be beneficial for homeowners, making Montpelier an attractive place for property investment. The tax bill directly impacts homeowners by contributing to local services such as schools, public safety, and infrastructure, thereby enhancing the community's overall quality of life.
Average Montpelier Tax Bill
$879
Average Bear Lake County Tax Bill
$1,081
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Montpelier, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83254 | $467 | $655 | $879 | $1,245 | $1,664 |
Source: Ownwell