Greencreek, Idaho Property Taxes
The median property tax rate in Greencreek, ID is 0.20%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Greencreek, the typical annual property tax bill is $714, well below the national median of $2,690. Property taxes in Greencreek 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 Greencreek'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 Greencreek 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
Greencreek, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.2%
Estimate Property Tax Bill
$648
Ownwell’s Greencreek Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Greencreek. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Greencreek to provide an accurate estimate of your property tax bill. This valuable resource helps you understand potential tax liabilities and make informed decisions. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions, giving you a clear picture of what to expect.
Property Tax Rates Across Greencreek, Idaho
Property taxes in Greencreek, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greencreek is 0.20%, significantly lower than both the Idaho state median of 0.69% and the U.S. national median of 0.99%. Local government entities within Greencreek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greencreek 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 Greencreek'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 1.34%, while the lowest median tax rate is 0.18%. Understanding how these cities compare with Greencreek provides valuable insights into the varying tax landscape across Idaho, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greencreek Tax Rate
0.20%
Average Idaho County Tax Rate
0.27%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greencreek, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83533 | 0.18% | 0.19% | 0.20% | 0.22% | 0.29% |
Source: Ownwell
Property Tax Assessment Values Across Greencreek, Idaho
In Greencreek, 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 Idaho 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 Greencreek, 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 Greencreek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $714, found in the 83533 zip code.
Average Greencreek Assessed Value
$324,212
Average Idaho County Assessed Value
$208,696
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greencreek, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83533 | $78,414 | $224,446 | $324,212 | $399,243 | $497,089 |
Source: Ownwell
Property Tax Bills Across Greencreek, Idaho
In Greencreek, Idaho, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the home's market value. Homeowners in Greencreek can expect property tax bills that vary widely depending on the specific assessed value of their property. For instance, the median home price in the area is $324,212. The property tax rate in Greencreek is relatively low compared to the national median property tax rate of 0.99%. This means that homeowners in Greencreek generally face lower property tax bills. For example, the tax bill for the 25th percentile is $540, while the 75th percentile tax bill is $867. At the 90th percentile, the tax bill reaches $1044. These factors collectively influence how much homeowners pay annually, impacting their overall housing costs. Understanding these elements can help homeowners in Greencreek better anticipate and manage their property tax obligations.
Average Greencreek Tax Bill
$714
Average Idaho County Tax Bill
$670
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Greencreek, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83533 | $454 | $540 | $714 | $867 | $1,044 |
Source: Ownwell