Cataldo, Idaho Property Taxes
The median property tax rate in Cataldo, ID is 0.50%, aligning with the Idaho state median but notably lower than the national median of 0.99%. With the median home value in Cataldo at $147,525, the typical annual property tax bill is $1,087, significantly below the national median of $2,690. Property taxes in Cataldo are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cataldo'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 Cataldo 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
Cataldo, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$738
Ownwell’s Cataldo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cataldo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cataldo 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 Cataldo, Idaho
Property taxes in Cataldo, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cataldo is 0.50%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Cataldo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cataldo 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 Cataldo's effective property tax rate to other counties in Idaho and the national median. For comparison, the ZIP code 83810 has both the highest and lowest median property tax rate of 0.50%. Understanding how these cities compare with Cataldo provides valuable insights into the varying tax landscape across Shoshone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cataldo Tax Rate
0.50%
Average Shoshone County Tax Rate
0.56%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cataldo, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83810 | 0.34% | 0.39% | 0.50% | 0.78% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Cataldo, Idaho
In Cataldo, Idaho, grasping the difference between "market value" and "assessed value" is essential for understanding property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Shoshone 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 Cataldo, assessment notices are generally mailed out in the spring, typically 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 Cataldo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 83810, with a median tax bill of $1,087.
Average Cataldo Assessed Value
$147,525
Average Shoshone County Assessed Value
$166,384
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cataldo, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83810 | $26,657 | $64,534 | $147,525 | $293,802 | $515,816 |
Source: Ownwell
Property Tax Bills Across Cataldo, Idaho
In Cataldo, located in Shoshone County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Cataldo, the median home price is $147,525. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill is $519, while the 75th percentile tax bill reaches $1,654, and the 90th percentile tax bill can be as high as $2,624. These property taxes are essential for funding local services such as schools, public safety, and infrastructure. Homeowners in Cataldo may find their property tax bills slightly more manageable compared to the national median property tax rate of 0.99%. However, understanding these calculations and their implications can help homeowners better anticipate their annual expenses and plan accordingly.
Average Cataldo Tax Bill
$1,087
Average Shoshone County Tax Bill
$991
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Cataldo, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83810 | $210 | $519 | $1,087 | $1,654 | $2,624 |
Source: Ownwell