Pollock, Idaho Property Taxes
The median property tax rate in Pollock, Idaho is 0.35%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Pollock at $323,478, the typical annual property tax bill reaches $1,200, significantly below the national median of $2,690. Property taxes in Pollock 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 Pollock'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 Pollock 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
Pollock, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$1,132
Ownwell’s Pollock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pollock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pollock 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 Pollock, Idaho
Property taxes in Pollock, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pollock is 0.35%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Pollock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pollock 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 Pollock'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 ZIP code 83401, with a rate of 0.65%, while the lowest median tax rate is in ZIP code 83201, with a rate of 0.25%. Understanding how these cities compare with Pollock provides valuable insights into the varying tax landscape across Idaho County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pollock Tax Rate
0.35%
Average Idaho County Tax Rate
0.27%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pollock, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83547 | 0.24% | 0.30% | 0.35% | 0.45% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Pollock, Idaho
In Pollock, 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 Pollock, 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 Pollock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Pollock is $323,478, with tax bills ranging from $803 at the 25th percentile to $2,352 at the 90th percentile. The zip code 83547 has both the highest and lowest median tax bill at $1,200.
Average Pollock Assessed Value
$323,478
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 Pollock, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83547 | $95,830 | $189,166 | $323,478 | $502,375 | $720,445 |
Source: Ownwell
Property Tax Bills Across Pollock, Idaho
In Pollock, Idaho, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and is a percentage of the market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. The tax rate in Pollock is influenced by various factors, including local government budgets, school district funding, and public services. Homeowners in Pollock can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $803, while the 75th percentile tax bill reaches $1,677. At the 90th percentile, homeowners might see tax bills as high as $2,352. These figures indicate a range of tax burdens, reflecting differences in property values and specific local tax rates. Compared to the national median property tax rate of 0.99%, Pollock's tax rates can offer a different financial landscape for homeowners. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan accordingly.
Average Pollock Tax Bill
$1,200
Average Idaho County Tax Bill
$670
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Pollock, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83547 | $507 | $803 | $1,200 | $1,677 | $2,352 |
Source: Ownwell