Sugar City, Idaho Property Taxes
The median property tax rate in Sugar City, ID is 0.24%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Sugar City at $285,703, the typical annual property tax bill is $351, far below the national median of $2,690. Property taxes in Sugar City 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 Sugar 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 Sugar City or another part of Fremont County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sugar City, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.24%
Estimate Property Tax Bill
$686
Ownwell’s Sugar City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sugar City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sugar 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 Sugar City, Idaho
Property taxes in Sugar City, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sugar City is 0.24%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Sugar City set these rates annually, and they can vary considerably across different neighborhoods. Each year, Sugar 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. Understanding how Sugar City's property tax rate compares to other counties in Idaho and the national median 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 Sugar City Tax Rate
0.24%
Average Fremont County Tax Rate
0.43%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sugar City, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83448 | 0.13% | 0.23% | 0.24% | 0.26% | 0.34% |
Source: Ownwell
Property Tax Assessment Values Across Sugar City, Idaho
In Sugar 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 Fremont 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 Sugar 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 Sugar City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 83448 has both the highest and lowest median tax bills, each at $351.
Average Sugar City Assessed Value
$285,703
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 Sugar City, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83448 | $97,148 | $124,383 | $285,703 | $301,959 | $426,556 |
Source: Ownwell
Property Tax Bills Across Sugar City, Idaho
In Sugar City, located in Fremont County, ID, property tax bills are determined by assessing the market value of a home and applying the local tax rate to that assessed value. The median home price in Sugar City is $285,703, which plays a crucial role in calculating the tax bill. Factors considered include the property's location, size, and any improvements made to the home. The tax bills in Sugar City vary significantly, with the 25th percentile tax bill at $308 and the 75th percentile reaching $719. The 90th percentile tax bill is slightly higher at $728. These variations indicate how different factors can influence the final amount a homeowner pays. Compared to the national median property tax rate of 0.99%, Sugar City's tax rates can be relatively moderate, making it an appealing option for homeowners. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Sugar City Tax Bill
$351
Average Fremont County Tax Bill
$1,250
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Sugar City, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83448 | $295 | $308 | $351 | $719 | $728 |
Source: Ownwell