Buhl, Idaho Property Taxes
The median property tax rate in Buhl, ID is 0.24%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Buhl at $491,968, the typical annual property tax bill reaches $1,225, well below the national median of $2,690. Property taxes in Buhl are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Buhl'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 Buhl 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
Buhl, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.24%
Estimate Property Tax Bill
$1,181
Ownwell’s Buhl Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buhl with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buhl 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 Buhl, Idaho
Property taxes in Buhl, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buhl is 0.24%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Buhl set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buhl 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 Buhl's effective property tax rate compares to other regions in Gooding County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buhl Tax Rate
0.24%
Average Gooding County Tax Rate
0.43%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buhl, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83316 | 0.22% | 0.23% | 0.24% | 0.26% | 0.41% |
Source: Ownwell
Property Tax Assessment Values Across Buhl, Idaho
In Buhl, 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 Gooding 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 Buhl, 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. The median home price in Buhl is $491,968, with tax bills ranging from $973 at the 25th percentile to $2,083 at the 90th percentile. The highest and lowest median tax bills are both $1,225 in the 83316 zip code. 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 Buhl helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Buhl Assessed Value
$491,968
Average Gooding County Assessed Value
$220,136
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buhl, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83316 | $297,735 | $415,265 | $491,968 | $593,341 | $689,241 |
Source: Ownwell
Property Tax Bills Across Buhl, Idaho
In Buhl, located in Gooding County, ID, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by local assessors who evaluate the market value of the property. Once the market value is established, the assessed value is then multiplied by the tax rate set by the local government to calculate the property tax bill. Homeowners in Buhl can expect a wide range of property tax bills. For instance, the 25th percentile tax bill is approximately $973, while the 75th percentile tax bill is around $1671. Those at the 90th percentile might see tax bills as high as $2083. Comparatively, the national median property tax rate is 0.99%, making it crucial for homeowners in Buhl to understand how their local rates and assessed values influence their annual tax obligations. This variation in tax bills significantly impacts homeowners, affecting their yearly budget and long-term financial planning.
Average Buhl Tax Bill
$1,225
Average Gooding County Tax Bill
$1,104
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Buhl, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83316 | $700 | $973 | $1,225 | $1,671 | $2,083 |
Source: Ownwell