Blackfoot, Idaho Property Taxes
The median property tax rate in Blackfoot, Idaho is 0.49%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Blackfoot at $260,599, the typical annual property tax bill reaches $1,127, falling well below the national median of $2,690. Property taxes in Blackfoot are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Blackfoot'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 Blackfoot 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
Blackfoot, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,277
Ownwell’s Blackfoot Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blackfoot with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blackfoot 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 Blackfoot, Idaho
Property taxes in Blackfoot, Idaho, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Blackfoot is 0.49%, which is lower than the U.S. national median of 0.99%. Local government entities within Blackfoot set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blackfoot 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 Blackfoot's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83221 has both the highest and lowest median property tax rate at 0.49%. Understanding how these figures compare with Blackfoot's provides valuable insights into the varying tax landscape across Bingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blackfoot Tax Rate
0.49%
Average Bingham County Tax Rate
0.49%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blackfoot, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83221 | 0.29% | 0.34% | 0.49% | 0.63% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Blackfoot, Idaho
In Blackfoot, 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 Bingham County Assessor's Office 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 Blackfoot, 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 Blackfoot helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 83221 in Blackfoot has the highest median tax bill at $1127, which is also the lowest, offering a unique perspective on property tax costs in the area.
Average Blackfoot Assessed Value
$260,599
Average Bingham County Assessed Value
$255,122
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blackfoot, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83221 | $30,200 | $171,218 | $260,599 | $350,583 | $444,328 |
Source: Ownwell
Property Tax Bills Across Blackfoot, Idaho
Property tax bills in Blackfoot, located in Bingham County, ID, are determined by assessing the value of a property and applying the local tax rate to this assessed value. The median home price in Blackfoot is $260,599. Property taxes are calculated based on this assessed value, and various factors such as the property's location, size, and condition can influence the final tax bill. For homeowners in Blackfoot, the tax bill can vary significantly. For example, the 25th percentile tax bill is $626, while the 75th percentile tax bill reaches $1,704. At the 90th percentile, homeowners might pay as much as $2,389. In comparison to the national median property tax rate of 0.99%, Blackfoot's tax rates can be relatively moderate or high depending on the specific property and its assessed value. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. For homeowners, understanding how these taxes are calculated and the factors influencing them is essential for financial planning and property management.
Average Blackfoot Tax Bill
$1,127
Average Bingham County Tax Bill
$1,085
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Blackfoot, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83221 | $173 | $626 | $1,127 | $1,704 | $2,389 |
Source: Ownwell