Nezperce, Idaho Property Taxes
The median property tax rate in Nezperce, ID is 0.85%, which is lower than the national median of 0.99% but significantly higher than the Idaho state median of 0.50%. With a median home value of $167,793, the typical annual property tax bill in Nezperce is $1,472, which falls below the national median of $2,690. Property taxes in Nezperce are calculated based on the assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. By understanding Nezperce's property tax system, homeowners can explore available exemptions and identify opportunities for reductions, leading to substantial annual savings. Whether you're in the heart of Nezperce or another part of Lewis County, being informed about the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nezperce, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,426
Ownwell’s Nezperce Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nezperce with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nezperce 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 Nezperce, Idaho
Property taxes in Nezperce, Idaho, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nezperce is 0.85%, lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Nezperce set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nezperce 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 Nezperce's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83543 zip code has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Nezperce provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nezperce Tax Rate
0.85%
Average Lewis County Tax Rate
0.83%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nezperce, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83543 | 0.73% | 0.77% | 0.85% | 1.24% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Nezperce, Idaho
In Nezperce, 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 Lewis 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 Nezperce, 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 Nezperce helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Nezperce is 83543, with a median tax bill of $1,472.
Average Nezperce Assessed Value
$167,793
Average Lewis County Assessed Value
$168,051
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nezperce, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83543 | $63,528 | $108,820 | $167,793 | $239,265 | $336,570 |
Source: Ownwell
Property Tax Bills Across Nezperce, Idaho
In Nezperce, located in Lewis County, ID, property tax bills are determined based on the assessed value of a property and the applicable tax rate. The assessed value is typically a percentage of the property's market value, which in Nezperce is influenced by factors such as location, property size, and improvements. The median home price in Nezperce stands at $167,793, and the property tax rate is applied to this assessed value to calculate the tax bill. Homeowners in Nezperce can expect varying tax bills depending on their property's assessed value. The 25th percentile tax bill is $1,034, while the 75th percentile tax bill reaches $2,249. For those at the higher end, the 90th percentile tax bill can be as much as $3,502. These figures highlight the range of property tax obligations within the city, affecting homeowners differently based on their property’s value. Comparing these rates to the national median property tax rate of 0.99%, Nezperce’s property tax rates reflect the specific economic and market conditions of the area.
Average Nezperce Tax Bill
$1,472
Average Lewis County Tax Bill
$1,222
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Nezperce, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83543 | $550 | $1,034 | $1,472 | $2,249 | $3,502 |
Source: Ownwell