Paris, Idaho Property Taxes
The median property tax rate in Paris, ID is 0.34%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Paris at $212,835, the typical annual property tax bill amounts to $805, well below the national median of $2,690. Property taxes in Paris are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Paris'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 Paris or another part of Bear Lake County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paris, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$724
Ownwell’s Paris Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Paris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paris 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 Paris, Idaho
Property taxes in Paris, Idaho, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paris is 0.34%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Paris set these rates annually, and they can vary considerably across different neighborhoods. Each year, Paris 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 Paris's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in Idaho is significantly higher than Paris's 0.34%, while the lowest median tax rate is also notably different. Understanding how these cities compare with Paris 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 Paris Tax Rate
0.34%
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 Paris, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83261 | 0.26% | 0.27% | 0.34% | 0.53% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Paris, Idaho
In Paris, 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 Paris, 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 zip code with the highest median tax bill in Bear Lake County is 83261, with a median tax bill of $805. Being aware of these valuation processes in Paris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Paris Assessed Value
$212,835
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 Paris, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83261 | $116,150 | $168,806 | $212,835 | $288,780 | $437,970 |
Source: Ownwell
Property Tax Bills Across Paris, Idaho
In Paris, located in Bear Lake County, ID, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the final tax bill, including property improvements, neighborhood developments, and changes in market conditions. For instance, the median home price in Paris is $212,835, and property tax bills vary significantly across different percentiles. Homeowners in the 25th percentile pay around $596, while those in the 75th percentile face bills closer to $1085. For those in the 90th percentile, tax bills can reach up to $1551. These property taxes fund essential community services such as schools, emergency services, and infrastructure maintenance, directly impacting the quality of life for homeowners. Comparatively, the property tax rate in Paris aligns closely with the national median rate of 0.99%, ensuring that residents contribute fairly to the community’s well-being.
Average Paris Tax Bill
$805
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 Paris, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83261 | $506 | $596 | $805 | $1,085 | $1,551 |
Source: Ownwell