Rexburg, Idaho Property Taxes
The median property tax rate in Rexburg, ID is 0.27%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Rexburg, the typical annual property tax bill is $1,041, well below the national median of $2,690. Property taxes in Rexburg are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rexburg'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 Rexburg 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
Rexburg, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.27%
Estimate Property Tax Bill
$966
Ownwell’s Rexburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rexburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rexburg 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 Rexburg, Idaho
Property taxes in Rexburg, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rexburg is 0.27%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Rexburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rexburg 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 Rexburg's effective property tax rate to other counties in Idaho and the national median. Understanding how Rexburg's property tax rate compares with other cities provides valuable insights into the varying tax landscape across Fremont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rexburg Tax Rate
0.27%
Average Fremont County Tax Rate
0.43%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rexburg, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83440 | 0.24% | 0.26% | 0.27% | 0.33% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Rexburg, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rexburg, Idaho. 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 Fremont County 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 Rexburg, 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 Rexburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Rexburg, the median home price is $357,718. The tax bills vary widely, with the 25th percentile at $617, the 75th percentile at $1,538, and the 90th percentile reaching $2,020. Interestingly, the zip code 83440 has both the highest and lowest median tax bill, which is $1,041.
Average Rexburg Assessed Value
$357,718
Average Fremont County Assessed Value
$277,698
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rexburg, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83440 | $108,494 | $213,438 | $357,718 | $512,384 | $667,110 |
Source: Ownwell
Property Tax Bills Across Rexburg, Idaho
In Rexburg, located in Fremont County, ID, property tax bills are calculated based on the assessed value of a home. The median home price in Rexburg stands at $357,718. This value is used to determine the assessed value, which is then multiplied by the local tax rate to calculate the tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Rexburg experience a range of property tax bills, with the 25th percentile at $617 and the 75th percentile at $1,538. For those in the 90th percentile, tax bills can reach up to $2,020. The highest median tax bill in the area is $1,041, which is significantly lower than the national median property tax rate of 0.99%. These tax bills directly impact homeowners by influencing their annual expenses and overall cost of homeownership. Understanding these factors can help homeowners better manage their financial planning and anticipate future property tax liabilities.
Average Rexburg Tax Bill
$1,041
Average Fremont County Tax Bill
$1,250
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Rexburg, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83440 | $373 | $617 | $1,041 | $1,538 | $2,020 |
Source: Ownwell