Boise, Idaho Property Taxes
The median property tax rate in Boise, ID is 0.24%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Boise at $410,678, the typical annual property tax bill is around $1,090, well below the national median of $2,690. Property taxes in Boise are calculated based on the assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Boise'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 Boise or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Boise, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.24%
Estimate Property Tax Bill
$986
Ownwell’s Boise Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boise with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boise 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 Boise, Idaho
Property taxes in Boise, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boise is 0.24%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Boise set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boise 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 Boise's effective property tax rate to other counties in Idaho and the national median. Understanding how Boise's property tax rate compares to other regions provides valuable insights into the varying tax landscape across Ada County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boise Tax Rate
0.24%
Average Boise County Tax Rate
0.30%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boise, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83702 | 0.31% | 0.33% | 0.35% | 0.37% | 0.38% |
| 83716 | 0.18% | 0.20% | 0.24% | 0.30% | 0.37% |
Source: Ownwell
Property Tax Assessment Values Across Boise, Idaho
In Boise, 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 Ada 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 Boise, 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. The median home price in Boise is $410,678, and tax bills can vary significantly. For instance, the highest median tax bill is $1,511 in the 83702 zip code, while the lowest is $1,086 in the 83716 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Boise Assessed Value
$410,678
Average Boise County Assessed Value
$366,025
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boise, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83702 | $291,646 | $308,621 | $320,639 | $340,265 | $350,797 |
| 83716 | $103,294 | $232,577 | $434,721 | $713,518 | $986,643 |
Source: Ownwell
Property Tax Bills Across Boise, Idaho
Property tax bills in Boise are determined by assessing the market value of a property and then applying the local tax rate. The calculation begins with the county assessor evaluating the property's market value. Various factors such as location, property size, and home improvements are considered in this assessment. Once the market value is established, the assessed value is typically a percentage of this figure, which is then multiplied by the local tax rate to determine the annual property tax bill. In Boise, the median home price is $410,678, and property tax bills can vary significantly. For instance, homeowners in the 25th percentile pay around $608 annually, while those in the 75th percentile can see bills as high as $1,787. The highest median tax bill in Boise is $1,511 in the 83702 zip code, whereas the lowest median tax bill is $1,086 in the 83716 zip code. Compared to the national median property tax rate of 0.99%, Boise homeowners experience a range of tax bills that reflect the diversity in property values and local tax rates.
Average Boise Tax Bill
$1,090
Average Boise County Tax Bill
$1,257
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Boise, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83702 | $1,264 | $1,356 | $1,511 | $1,665 | $1,757 |
| 83716 | $388 | $607 | $1,086 | $1,787 | $2,450 |
Source: Ownwell