Picabo, Idaho Property Taxes
The median property tax rate in Picabo, Idaho is 0.37%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Picabo at $322,166, the typical annual property tax bill reaches $1,050, well below the national median of $2,690. Property taxes in Picabo are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Picabo'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 Picabo or another part of Blaine County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Picabo, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$1,192
Ownwell’s Picabo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Picabo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Picabo 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 Blaine County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Picabo, Idaho
Property taxes in Picabo, Idaho, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Picabo is 0.37%, lower than both the Idaho state median of 0.69% and the U.S. national median of 0.99%. Local government entities within Picabo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Picabo 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 Picabo's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in Idaho is found in zip code 83702, with a rate of 1.16%, while the lowest median tax rate is in zip code 83254, at 0.42%. Understanding how these cities compare with Picabo provides valuable insights into the varying tax landscape across Blaine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Picabo Tax Rate
0.37%
Average Blaine County Tax Rate
0.35%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Picabo, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83348 | 0.23% | 0.26% | 0.37% | 0.38% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Picabo, Idaho
In Picabo, 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 Blaine County Appraisal District 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 Picabo, 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 Picabo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $322,166, with tax bills ranging from $542 at the 25th percentile to $2,003 at the 90th percentile, highlighting the importance of understanding these values.
Average Picabo Assessed Value
$322,166
Average Blaine County Assessed Value
$709,430
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Picabo, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83348 | $112,534 | $139,508 | $322,166 | $415,369 | $552,601 |
Source: Ownwell
Property Tax Bills Across Picabo, Idaho
In Picabo, located in Blaine County, ID, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. Various factors such as property size, location, and improvements can influence this assessed value. The local tax rate is applied to the assessed value to determine the annual tax bill. For homeowners in Picabo, the median home price is $322,166, and property tax bills can vary significantly. The 25th percentile tax bill is $542, while the 75th percentile tax bill reaches $1,365, and the 90th percentile tax bill climbs to $2,003. Homeowners in Picabo experience property tax bills that are relatively moderate compared to the national median property tax rate of 0.99%. These taxes contribute to local services such as schools, emergency services, and infrastructure, directly impacting the quality of life in the community.
Average Picabo Tax Bill
$1,050
Average Blaine County Tax Bill
$2,555
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Picabo, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83348 | $414 | $542 | $1,050 | $1,365 | $2,003 |
Source: Ownwell