Careywood, Idaho Property Taxes
The median property tax rate in Careywood, ID is 0.33%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Careywood at $466,576, the typical annual property tax bill is $1,535, which is well below the national median of $2,690. Property taxes in Careywood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Careywood'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 Careywood or another part of Bonner County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Careywood, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$1,540
Ownwell’s Careywood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Careywood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Careywood 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 Careywood, Idaho
Property taxes in Careywood, Idaho, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Careywood is 0.33%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Careywood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Careywood 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 Careywood's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in Idaho can be found in zip code 83701, with a rate of 0.75%, while the lowest median tax rate is in zip code 83201, at 0.25%. Understanding how these cities compare with Careywood provides valuable insights into the varying tax landscape across Bonner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Careywood Tax Rate
0.33%
Average Bonner County Tax Rate
0.34%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Careywood, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83809 | 0.28% | 0.31% | 0.33% | 0.40% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Careywood, Idaho
In Careywood, 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 Bonner 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 Careywood, 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 Careywood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Careywood is $1,535 in the 83809 zip code, which can be a significant consideration for homeowners.
Average Careywood Assessed Value
$466,576
Average Bonner County Assessed Value
$479,353
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Careywood, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83809 | $163,970 | $316,138 | $466,576 | $621,209 | $746,408 |
Source: Ownwell
Property Tax Bills Across Careywood, Idaho
In Careywood, located in Bonner County, ID, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Homeowners in Careywood experience varying tax bills depending on their property's assessed value. For example, the 25th percentile tax bill is $994, while the 75th percentile tax bill rises to $2,175, and the 90th percentile reaches $2,860. The highest median tax bill in Careywood is $1,535, as observed in the zip code 83809. Comparatively, the national median property tax rate is 0.99%. Understanding these factors helps homeowners anticipate their property tax responsibilities and plan their finances accordingly.
Average Careywood Tax Bill
$1,535
Average Bonner County Tax Bill
$1,672
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Careywood, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83809 | $466 | $994 | $1,535 | $2,175 | $2,860 |
Source: Ownwell