Dietrich, Idaho Property Taxes
The median property tax rate in Dietrich, Idaho is 0.60%, slightly higher than the state median of 0.50% but lower than the national median of 0.99%. With the median home value in Dietrich at $167,540, the typical annual property tax bill is $948, considerably below the national median of $2,690. Property taxes in Dietrich are calculated based on the assessed value, which generally falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Dietrich'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 Dietrich 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
Dietrich, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,005
Ownwell’s Dietrich Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dietrich with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dietrich 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 Dietrich, Idaho
Property taxes in Dietrich, Idaho, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Dietrich is 0.60%, which is lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Dietrich set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dietrich 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 Dietrich's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83324 zip code has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Dietrich provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dietrich Tax Rate
0.60%
Average Lincoln County Tax Rate
0.65%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dietrich, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83324 | 0.41% | 0.45% | 0.60% | 0.72% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Dietrich, Idaho
In Dietrich, 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 Lincoln 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 Dietrich, 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 Dietrich helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 83324 in Dietrich has the highest and lowest median tax bill at $948.
Average Dietrich Assessed Value
$167,540
Average Lincoln County Assessed Value
$107,940
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dietrich, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83324 | $9,648 | $63,932 | $167,540 | $316,192 | $478,391 |
Source: Ownwell
Property Tax Bills Across Dietrich, Idaho
In Dietrich, located in Lincoln County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Dietrich can expect their property tax bills to vary significantly based on their property's assessed value and the local tax rate. The tax bill in the 25th percentile is around $494, while those in the 75th percentile can see bills as high as $1,857. For the top 10% of homeowners, tax bills can reach up to $2,833. Compared to the national median property tax rate of 0.99%, Dietrich's tax rates can have a substantial impact on household budgets. Homeowners with properties in the highest median tax bill zip code, 83324, face a median tax bill of $948, which is relatively moderate compared to some other regions. These factors collectively influence how much homeowners need to allocate for their annual property tax payments, affecting their overall financial planning.
Average Dietrich Tax Bill
$948
Average Lincoln County Tax Bill
$780
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Dietrich, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83324 | $203 | $494 | $948 | $1,857 | $2,833 |
Source: Ownwell