Georgetown, Idaho Property Taxes
The median property tax rate in Georgetown, Idaho is 0.30%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Georgetown, the typical annual property tax bill is $637, well below the national median of $2,690. Property taxes in Georgetown are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Georgetown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Georgetown 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
Georgetown, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$632
Ownwell’s Georgetown Property Tax Bill Calculator helps homeowners, real estate investors, and potential buyers estimate their annual property taxes in Georgetown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Georgetown 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 Georgetown, Idaho
Property taxes in Georgetown, Idaho, are crucial for supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Georgetown is 0.30%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Georgetown set these rates annually, and they can vary across different neighborhoods. Each year, Georgetown 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 Georgetown's effective property tax rate to other counties in Idaho and the national median. Understanding how these cities compare with Georgetown provides valuable insights into the varying tax landscape across Bear Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Georgetown Tax Rate
0.30%
Average Bear Lake County Tax Rate
0.36%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Georgetown, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83239 | 0.25% | 0.26% | 0.30% | 0.42% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Georgetown, Idaho
In Georgetown, 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 Bear Lake 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 Georgetown, 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. The median home price in Georgetown is $210,547, with median tax bills ranging from $518 at the 25th percentile to $1,184 at the 90th percentile. Being aware of these valuation processes in Georgetown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Georgetown Assessed Value
$210,547
Average Bear Lake County Assessed Value
$278,628
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Georgetown, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83239 | $123,789 | $164,935 | $210,547 | $262,084 | $387,323 |
Source: Ownwell
Property Tax Bills Across Georgetown, Idaho
In Georgetown, Bear Lake County, ID, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is meant to reflect the market value of the property. Homeowners in Georgetown can expect property tax bills to vary significantly depending on the value of their home. For example, for a median home price of $210,547, tax bills range from the 25th percentile at $518 to the 90th percentile at $1,184. The local tax rate plays a crucial role in determining the final tax bill, and it can vary within different parts of the county. Georgetown's property tax rates are relatively moderate when compared to the national median property tax rate of 0.99%. This means that while property taxes are a significant expense for homeowners, they are not as burdensome as in some other regions. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Georgetown Tax Bill
$637
Average Bear Lake County Tax Bill
$1,081
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Georgetown, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83239 | $434 | $518 | $637 | $954 | $1,184 |
Source: Ownwell