Eastport, Idaho Property Taxes
The median property tax rate in Eastport, Idaho is 0.24%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With a median home value of $307,540 in Eastport, the typical annual property tax bill is $735, far below the national median of $2,690. Property taxes in Eastport are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Eastport'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 Eastport or another part of Boundary County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eastport, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.24%
Estimate Property Tax Bill
$738
Ownwell’s Eastport Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Eastport. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Eastport to provide an accurate estimate of your property tax bill. This valuable tool helps you gain a clear understanding of your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Eastport, Idaho
Property taxes in Eastport, Idaho, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Eastport is 0.24%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Eastport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eastport 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 Eastport'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 83856 with a rate of 0.56%, while the lowest median tax rate is in zip code 83552 with a rate of 0.21%. Understanding how these cities compare with Eastport provides valuable insights into the varying tax landscape across Boundary County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eastport Tax Rate
0.24%
Average Boundary County Tax Rate
0.33%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eastport, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83826 | 0.24% | 0.24% | 0.24% | 0.24% | 0.24% |
Source: Ownwell
Property Tax Assessment Values Across Eastport, Idaho
In Eastport, 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 Boundary 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 Eastport, 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. For instance, the zip code 83826 has the highest and lowest median tax bill of $735. 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 Eastport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eastport Assessed Value
$307,540
Average Boundary County Assessed Value
$368,060
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eastport, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83826 | $307,540 | $307,540 | $307,540 | $307,540 | $307,540 |
Source: Ownwell
Property Tax Bills Across Eastport, Idaho
In Eastport, Boundary County, ID, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is a percentage of the property's market value. For instance, if the median home price in Eastport is $307,540, the assessed value would be a fraction of this amount. The property tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property improvements, market trends, and neighborhood changes can influence the assessed value. In Eastport, the median property tax bill is $735, which is significantly lower than the national median property tax rate of 0.99%. This lower tax rate can be a financial relief for homeowners, making Eastport an attractive place for property investment. Homeowners should be aware that while the tax burden is relatively low, it is essential to stay informed about any changes in property assessments or tax rates that could affect their annual tax bill.
Average Eastport Tax Bill
$735
Average Boundary County Tax Bill
$1,244
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Eastport, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83826 | $735 | $735 | $735 | $735 | $735 |
Source: Ownwell