Shelley, Idaho Property Taxes
The median property tax rate in Shelley, Idaho is 0.43%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With a median home value of $293,030 in Shelley, the typical annual property tax bill amounts to $1,285, which is well below the national median of $2,690. Property taxes in Shelley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Shelley’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Shelley or another part of Bingham County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shelley, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$1,260
Ownwell’s Shelley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shelley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shelley 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 Shelley, Idaho
Property taxes in Shelley, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shelley is 0.43%, significantly lower than the U.S. national median of 0.99%. Local government entities within Shelley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shelley 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 Shelley's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83274 has both the highest and lowest median property tax rate of 0.43%. Understanding how these cities compare with Shelley provides valuable insights into the varying tax landscape across Bingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shelley Tax Rate
0.43%
Average Bingham County Tax Rate
0.49%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shelley, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83274 | 0.29% | 0.36% | 0.43% | 0.54% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Shelley, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Shelley, Idaho. 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 Bingham 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 Shelley, 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. For instance, the median home price in Shelley is $293,030, and the tax bill varies significantly, with the 25th percentile at $803 and the 75th percentile at $1,854. 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 highest and lowest median tax bills, both at $1,285, are found in the 83274 zip code. Being aware of these valuation processes in Shelley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Shelley Assessed Value
$293,030
Average Bingham County Assessed Value
$255,122
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shelley, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83274 | $54,180 | $230,380 | $293,030 | $399,211 | $533,504 |
Source: Ownwell
Property Tax Bills Across Shelley, Idaho
In Shelley, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Several factors influence the assessed value, including the property's location, size, condition, and any improvements made. The property tax rate in Shelley is applied to the assessed value to determine the annual tax bill. For example, homeowners in Shelley can expect to pay a tax bill ranging from $803 at the 25th percentile to $2,656 at the 90th percentile. The median home price in Shelley is $293,030, and the property tax rate is compared to the national median rate of 0.99%. High property tax bills can significantly impact homeowners, affecting their overall housing costs and potentially influencing their decisions on property improvements or even relocation. Understanding how these taxes are calculated helps homeowners plan and manage their finances more effectively.
Average Shelley Tax Bill
$1,285
Average Bingham County Tax Bill
$1,085
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Shelley, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83274 | $205 | $803 | $1,285 | $1,854 | $2,656 |
Source: Ownwell