Garden City, Idaho Property Taxes
The median property tax rate in Garden City, Idaho is 0.51%, slightly higher than the state median of 0.50% but still below the national median of 0.99%. With the median home value in Garden City at $61,929, the typical annual property tax bill comes to $316, significantly lower than the national median of $2,690. Property taxes in Garden City are calculated based on the assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Garden City'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 Garden City or another part of Elmore County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Garden City, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$316
Ownwell’s Garden City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garden City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garden City 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 Garden City, Idaho
Property taxes in Garden City, Idaho, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garden City is 0.51%, which is lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Garden City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garden City 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 Garden City's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83714 has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Garden City provides valuable insights into the varying tax landscape across Elmore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garden City Tax Rate
0.51%
Average Elmore County Tax Rate
0.50%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garden City, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83714 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Garden City, Idaho
In Garden City, 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 Elmore 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 Garden City, 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 Garden City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $316, found in the 83714 zip code.
Average Garden City Assessed Value
$61,929
Average Elmore County Assessed Value
$276,790
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garden City, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83714 | $61,929 | $61,929 | $61,929 | $61,929 | $61,929 |
Source: Ownwell
Property Tax Bills Across Garden City, Idaho
In Garden City, Elmore County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. For homeowners in Garden City, the median home price is $61,929. The property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property characteristics, location, and any applicable exemptions. For example, the median property tax bill in Garden City is $316, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax bill can be attributed to the lower home values in the area. For homeowners, understanding how these elements contribute to their tax bill is crucial for financial planning. Lower property taxes can make homeownership more affordable, but it's important to stay informed about any changes in property assessments or tax rates that could impact future tax obligations.
Average Garden City Tax Bill
$316
Average Elmore County Tax Bill
$1,251
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Garden City, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83714 | $316 | $316 | $316 | $316 | $316 |
Source: Ownwell