Arco, Idaho Property Taxes
The median property tax rate in Arco, Idaho is 0.88%, slightly below the national median of 0.99% but significantly higher than the Idaho state median of 0.50%. With a median home value in Arco of $54,734, the typical annual property tax bill comes to $891, which is well below the national median of $2,690. Property taxes in Arco 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 Arco'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 Arco or another part of Butte County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Arco, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$482
Ownwell’s ARCO Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in ARCO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ARCO to give you an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making financial planning easier. For those interested in neighborhood-level trends, additional localized information is available further down the page. Your property’s assessed value is determined by the county for tax calculations, and it takes into account any applicable exemptions.
Property Tax Rates Across Arco, Idaho
Property taxes in Arco, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arco is 0.88%, slightly lower than the U.S. national median of 0.99%. Local government entities within Arco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arco 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 Arco's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83213 has both the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Arco provides valuable insights into the varying tax landscape across Butte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arco Tax Rate
0.88%
Average Butte County Tax Rate
0.85%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arco, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83213 | 0.50% | 0.68% | 0.88% | 1.12% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Arco, Idaho
In Arco, 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 Butte 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 Arco, 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 Arco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 83213 has both the highest and lowest median tax bill at $891.
Average Arco Assessed Value
$54,734
Average Butte County Assessed Value
$125,344
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arco, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83213 | $2,157 | $7,696 | $54,734 | $145,760 | $255,774 |
Source: Ownwell
Property Tax Bills Across Arco, Idaho
In ARCO, Butte County, ID, property tax bills are calculated based on the assessed value of your home. The local tax assessor evaluates properties to determine their assessed value, which is then used to calculate your tax bill. Several factors influence this assessed value, including the property's market value, location, and any improvements or renovations made to the home. For instance, with a median home price of $54,734, homeowners in ARCO can expect varying tax bills. The 25th percentile tax bill is around $468, while those in the 75th percentile might pay approximately $1,631. At the higher end, the 90th percentile tax bill can reach up to $2,698. These figures highlight the range of property tax obligations homeowners might face. Compared to the national median property tax rate of 0.99%, ARCO's tax bills reflect the unique economic conditions of the region. Understanding these factors helps homeowners anticipate their property tax responsibilities and plan their finances accordingly.
Average Arco Tax Bill
$891
Average Butte County Tax Bill
$1,276
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Arco, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83213 | $147 | $468 | $891 | $1,631 | $2,698 |
Source: Ownwell