Clifton, Idaho Property Taxes
The median property tax rate in Clifton, Idaho is 0.39%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Clifton at $290,922, the typical annual property tax bill is $1,104, which is well below the national median of $2,690. Property taxes in Clifton are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Clifton'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 Clifton or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clifton, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$1,135
Ownwell’s Clifton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Clifton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clifton 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 Clifton, Idaho
Property taxes in Clifton, Idaho, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clifton is 0.58%, which is higher than both the Idaho state median of 0.49% and the U.S. national median of 0.99%. Local government entities within Clifton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clifton 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 Clifton's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83276 zip code has the highest median property tax rate of 0.66%, while the 83223 zip code has the lowest median tax rate of 0.51%. Understanding how these cities compare with Clifton provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clifton Tax Rate
0.39%
Average Franklin County Tax Rate
0.43%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clifton, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83228 | 0.32% | 0.36% | 0.39% | 0.48% | 0.67% |
| 83232 | 0.34% | 0.34% | 0.34% | 0.34% | 0.34% |
Source: Ownwell
Property Tax Assessment Values Across Clifton, Idaho
In Clifton, 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 Franklin 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 Clifton, 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 Clifton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $2,344 in zip code 83232, while the lowest is $1,101 in zip code 83228.
Average Clifton Assessed Value
$290,922
Average Franklin County Assessed Value
$317,415
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clifton, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83228 | $134,570 | $195,163 | $290,393 | $371,747 | $487,682 |
| 83232 | $680,555 | $680,555 | $680,555 | $680,555 | $680,555 |
Source: Ownwell
Property Tax Bills Across Clifton, Idaho
In Clifton, located in Franklin County, Idaho, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property’s market value. This assessed value is then multiplied by the local tax rate to determine the tax bill. For homeowners in Clifton, the median home price is $290,922. Tax bills can vary significantly, with the 25th percentile at $833 and the 75th percentile reaching $1,506. At the 90th percentile, homeowners can expect to pay around $2,129. By comparison, the national median property tax rate is 0.99%, which means Clifton's property taxes are relatively moderate. Homeowners should be aware that factors such as property improvements, neighborhood changes, and local government budgets can influence their assessed value and, consequently, their tax bill. Understanding these factors can help homeowners anticipate changes in their property tax obligations and plan their finances accordingly.
Average Clifton Tax Bill
$1,104
Average Franklin County Tax Bill
$1,363
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Clifton, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83228 | $603 | $831 | $1,101 | $1,481 | $2,119 |
| 83232 | $2,344 | $2,344 | $2,344 | $2,344 | $2,344 |
Source: Ownwell