Moyie Springs, Idaho Property Taxes
The median property tax rate in Moyie Springs, ID is 0.30%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Moyie Springs at $339,125, the typical annual property tax bill amounts to $1,011, which is well below the national median of $2,690. Property taxes in Moyie Springs are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Moyie Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Moyie Springs or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moyie Springs, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$1,017
Ownwell’s Moyie Springs Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Moyie Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moyie Springs 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 Moyie Springs, Idaho
Property taxes in Moyie Springs, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moyie Springs is 0.30%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Moyie Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moyie Springs 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 Moyie Springs' effective property tax rate to other counties in Idaho and the national median. Understanding how these cities compare with Moyie Springs 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 Moyie Springs Tax Rate
0.30%
Average Boundary County Tax Rate
0.33%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moyie Springs, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83845 | 0.26% | 0.28% | 0.30% | 0.45% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Moyie Springs, Idaho
In Moyie Springs, 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 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 Moyie Springs, 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 Moyie Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Moyie Springs is $339,125, with median tax bills ranging from $514 at the 25th percentile to $2,225 at the 90th percentile. The zip code 83845 features both the highest and lowest median tax bills at $1,011.
Average Moyie Springs Assessed Value
$339,125
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 Moyie Springs, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83845 | $16,406 | $179,640 | $339,125 | $515,820 | $695,850 |
Source: Ownwell
Property Tax Bills Across Moyie Springs, Idaho
In Moyie Springs, Boundary County, ID, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. Factors such as property size, location, and improvements can influence this assessed value. The property tax rate in Moyie Springs is applied to the assessed value to determine the tax bill. Homeowners in Moyie Springs can expect a median home price of $339,125. The tax bills vary significantly, with the 25th percentile at $514 and the 75th percentile reaching $1,622. The 90th percentile tax bill goes up to $2,225, indicating a range based on property values and other factors. Compared to the national median property tax rate of 0.99%, Moyie Springs offers a competitive tax environment. This variability in tax bills means that homeowners need to be aware of their property's assessed value and any potential exemptions or appeals that could affect their tax obligations.
Average Moyie Springs Tax Bill
$1,011
Average Boundary County Tax Bill
$1,244
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Moyie Springs, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83845 | $238 | $514 | $1,011 | $1,622 | $2,225 |
Source: Ownwell