Meridian, Idaho Property Taxes
The median property tax rate in Meridian, ID is 0.51%, slightly above the Idaho state median of 0.50% but below the national median of 0.99%. With a median home value of $441,800 in Meridian, the typical annual property tax bill amounts to $2,311, which is under the national median of $2,690. Property taxes in Meridian are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Meridian's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're located in the heart of Meridian or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Meridian, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$2,253
Ownwell’s Meridian Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meridian with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meridian 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 Meridian, Idaho
Property taxes in Meridian, Idaho, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Meridian is 0.51%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Meridian set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meridian 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 Meridian's effective property tax rate to other areas in Ada County and the national median. For comparison, the 83713 zip code has the highest median property tax rate of 0.53%, while the 83642 zip code has the lowest median tax rate of 0.50%. Understanding how these areas compare with Meridian provides valuable insights into the varying tax landscape across Ada County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Meridian Tax Rate
0.51%
Average Ada County Tax Rate
0.58%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meridian, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83616 | 0.35% | 0.35% | 0.35% | 0.35% | 0.35% |
| 83642 | 0.38% | 0.46% | 0.50% | 0.55% | 0.64% |
| 83646 | 0.44% | 0.47% | 0.51% | 0.55% | 0.64% |
| 83713 | 0.30% | 0.43% | 0.53% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Meridian, Idaho
In Meridian, 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 Ada 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 Meridian, 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 Meridian helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $3,691 in zip code 83713, while the lowest is $2,274 in zip code 83642.
Average Meridian Assessed Value
$441,800
Average Ada County Assessed Value
$433,000
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Meridian, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83616 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| 83642 | $310,640 | $360,600 | $437,000 | $581,600 | $718,580 |
| 83646 | $335,130 | $375,100 | $445,100 | $554,025 | $671,770 |
| 83713 | $654,090 | $675,375 | $701,500 | $719,675 | $726,650 |
Source: Ownwell
Property Tax Bills Across Meridian, Idaho
In Meridian, located in Ada County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. The tax rate is then applied to this assessed value to determine the annual tax bill. Various factors, such as property size, location, and improvements, contribute to the assessed value. For homeowners in Meridian, the median home price is $441,800. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,823 and the 75th percentile reaching $2,944. At the 90th percentile, tax bills can be as high as $3,721. Comparatively, the highest median tax bill in the region is $3,691 in the 83713 zip code, while the lowest is $2,274 in the 83642 zip code. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding these factors can help homeowners anticipate and manage their annual property tax expenses effectively.
Average Meridian Tax Bill
$2,311
Average Ada County Tax Bill
$2,663
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Meridian, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83616 | $3,537 | $3,537 | $3,537 | $3,537 | $3,537 |
| 83642 | $1,290 | $1,752 | $2,274 | $2,976 | $3,779 |
| 83646 | $1,540 | $1,873 | $2,334 | $2,926 | $3,672 |
| 83713 | $1,990 | $2,930 | $3,691 | $3,961 | $4,014 |
Source: Ownwell