Caldwell, Idaho Property Taxes
The median property tax rate in Caldwell, 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 Caldwell at $487,530, the typical annual property tax bill amounts to $1,271, which is below the national median of $2,690. Property taxes in Caldwell 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 Caldwell'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 Caldwell 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
Caldwell, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.27%
Estimate Property Tax Bill
$1,316
Ownwell’s Caldwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caldwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Caldwell 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 Caldwell, Idaho
Property taxes in Caldwell, Idaho, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Caldwell is 0.67%, which is notably higher than the Idaho state median of 0.69% but still lower than the U.S. national median of 0.99%. Local government entities within Caldwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Caldwell 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 Caldwell'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 Blaine County, with a rate of 0.89%, while the lowest median tax rate is in Madison County at 0.56%. Understanding how these cities compare with Caldwell provides valuable insights into the varying tax landscape across Gem County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caldwell Tax Rate
0.27%
Average Gem County Tax Rate
0.28%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caldwell, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83607 | 0.16% | 0.24% | 0.27% | 0.30% | 0.34% |
Source: Ownwell
Property Tax Assessment Values Across Caldwell, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Caldwell, ID. 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 Gem 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 Caldwell, 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 Caldwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Caldwell stands at $487,530, with the highest and lowest median tax bills both recorded at $1,271 in the zip code 83607.
Average Caldwell Assessed Value
$487,530
Average Gem County Assessed Value
$389,330
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caldwell, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83607 | $116,985 | $300,504 | $487,530 | $730,081 | $962,800 |
Source: Ownwell
Property Tax Bills Across Caldwell, Idaho
In Caldwell, property tax bills are determined based on the assessed value of your home and the local tax rate. The process begins with the county assessor evaluating the market value of your property. This value is then multiplied by the local tax rate to calculate your annual tax bill. Various factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of comparable properties in the area. For homeowners in Caldwell, the median home price is $487,530. Tax bills can vary significantly, with the 25th percentile paying around $730 and the 75th percentile facing bills up to $1,996. The 90th percentile sees even higher bills, reaching $2,636. Compared to the national median property tax rate of 0.99%, Caldwell's property tax rates can be seen as relatively moderate. However, these taxes still represent a significant financial consideration for homeowners, affecting both monthly budgets and long-term financial planning.
Average Caldwell Tax Bill
$1,271
Average Gem County Tax Bill
$1,205
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Caldwell, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83607 | $269 | $730 | $1,271 | $1,996 | $2,636 |
Source: Ownwell