Nordman, Idaho Property Taxes
The median property tax rate in Nordman, ID is 0.31%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Nordman, the typical annual property tax bill reaches $1,317, which is well below the national median of $2,690. Property taxes in Nordman are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Nordman'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 Nordman 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
Nordman, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$1,334
Ownwell’s Nordman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nordman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nordman 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 Nordman, Idaho
Property taxes in Nordman, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nordman is 0.31%, significantly lower than the U.S. national median of 0.99%. Local government entities within Nordman set these rates annually, and they can vary across different neighborhoods. Each year, Nordman 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 Nordman's property tax rate compares to other regions 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 Nordman Tax Rate
0.31%
Average Bonner County Tax Rate
0.34%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nordman, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83848 | 0.21% | 0.28% | 0.31% | 0.34% | 0.38% |
Source: Ownwell
Property Tax Assessment Values Across Nordman, Idaho
In Nordman, 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 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 Nordman, 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 Nordman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 83848 has the highest and lowest median tax bills, both at $1,317.
Average Nordman Assessed Value
$430,234
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 Nordman, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83848 | $141,680 | $267,704 | $430,234 | $691,285 | $1,113,200 |
Source: Ownwell
Property Tax Bills Across Nordman, Idaho
In Nordman, located in Bonner County, ID, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For instance, with a median home price of $430,234, the property tax bill can vary significantly. For homeowners in Nordman, the 25th percentile tax bill is around $894, while those in the 75th percentile pay approximately $2,026. At the 90th percentile, the tax bill can reach up to $2,994. These figures reflect how the assessed value and the tax rate combine to impact the amount homeowners owe annually. Compared to the national median property tax rate of 0.99%, Nordman’s property tax rates can influence household budgets considerably, especially for homes in higher value brackets. This variability underscores the importance of understanding local property tax assessments and rates to better anticipate annual expenses.
Average Nordman Tax Bill
$1,317
Average Bonner County Tax Bill
$1,672
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Nordman, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83848 | $427 | $894 | $1,317 | $2,026 | $2,994 |
Source: Ownwell