Burley, Idaho Property Taxes
The median property tax rate in Burley, ID is 0.39%, significantly lower than both the national median of 0.99% and Idaho's state median of 0.50%. With the median home value in Burley at $242,554, the typical annual property tax bill is $889, which is well below the national median of $2,690. Property taxes in Burley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Burley'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 Burley or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burley, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$946
Ownwell’s Burley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burley 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 Burley, Idaho
Property taxes in Burley, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burley is 0.39%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Burley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burley 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 Burley'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 certain zip codes, while other areas have the lowest median tax rates. Understanding how these cities compare with Burley provides valuable insights into the varying tax landscape across Cassia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burley Tax Rate
0.39%
Average Cassia County Tax Rate
0.38%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burley, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83318 | 0.25% | 0.33% | 0.39% | 0.56% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Burley, Idaho
In Burley, 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 Cassia 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. 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 Burley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Burley, the median home price is $242,554, with the highest and lowest median tax bill both being $889 in the 83318 zip code.
Average Burley Assessed Value
$242,554
Average Cassia County Assessed Value
$232,517
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burley, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83318 | $51,763 | $121,606 | $242,554 | $347,222 | $492,443 |
Source: Ownwell
Property Tax Bills Across Burley, Idaho
In Burley, located in Cassia County, Idaho, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is meant to reflect the market value of the property. Homeowners in Burley can expect their tax bills to vary significantly depending on their property's assessed value. The median home price in Burley is $242,554, which serves as a reference point for many tax calculations. Several factors influence the final tax bill, including the property's location, size, and any improvements made. Tax bills in Burley range widely, with the 25th percentile at $495 and the 75th percentile at $1,474. For those at the higher end, the 90th percentile tax bill can reach up to $2,136. This variation highlights the impact of property value assessments on tax obligations. Compared to the national median property tax rate of 0.99%, Burley offers a relatively moderate tax environment, which can be a significant consideration for current and prospective homeowners.
Average Burley Tax Bill
$889
Average Cassia County Tax Bill
$844
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Burley, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83318 | $122 | $495 | $889 | $1,474 | $2,136 |
Source: Ownwell