Centerville, Idaho Property Taxes
The median property tax rate in Centerville, Idaho is 0.64%, which is lower than the national median of 0.99% but higher than Idaho's state median of 0.50%. With the median home value in Centerville, the typical annual property tax bill is $32, significantly below the national median of $2,690. Property taxes in Centerville are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Centerville'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 Centerville or another part of Bonneville County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Centerville, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$32
Ownwell’s Centerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centerville 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 Centerville, Idaho
Property taxes in Centerville, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centerville is 0.64%, lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Centerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centerville 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 Centerville's effective property tax rate to other areas in Idaho and the national median. For comparison, the zip code 84014 has the highest median property tax rate of 0.64%, while the lowest median tax rate is also 0.64% in the same zip code. Understanding how these cities compare with Centerville provides valuable insights into the varying tax landscape across Bonneville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centerville Tax Rate
0.64%
Average Bonneville County Tax Rate
0.46%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centerville, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84014 | 0.64% | 0.64% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Centerville, Idaho
In Centerville, 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 Bonneville 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 Centerville, 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 Centerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Centerville Assessed Value
$5,000
Average Bonneville County Assessed Value
$349,759
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centerville, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84014 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 |
Source: Ownwell
Property Tax Bills Across Centerville, Idaho
In Centerville, Bonneville County, ID, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Centerville face a property tax rate that is influenced by various factors, including local government budgets, school funding, and public services. For example, with a median home price of $5,000, the property tax bills in Centerville can vary. The 25th, 75th, and 90th percentile tax bills all stand at $32, indicating a relatively uniform tax burden across different property values. Compared to the national median property tax rate of 0.99%, Centerville's rates are considerably lower, making it an attractive location for homeowners seeking affordable property taxes. This lower tax rate can significantly affect homeowners by reducing their annual financial obligations, allowing for more disposable income or investment in property improvements.
Average Centerville Tax Bill
$32
Average Bonneville County Tax Bill
$1,646
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Centerville, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84014 | $32 | $32 | $32 | $32 | $32 |
Source: Ownwell