Horseshoe Bend, Idaho Property Taxes
The median property tax rate in Horseshoe Bend, ID is 0.26%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Horseshoe Bend at $389,209, the typical annual property tax bill amounts to $1,281, well below the national median of $2,690. Property taxes in Horseshoe Bend are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Horseshoe Bend'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 Horseshoe Bend 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
Horseshoe Bend, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.26%
Estimate Property Tax Bill
$1,012
Ownwell’s Horseshoe Bend Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Horseshoe Bend with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Horseshoe Bend 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 Horseshoe Bend, Idaho
Property taxes in Horseshoe Bend, Idaho, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Horseshoe Bend is 0.26%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Horseshoe Bend set these rates annually, and they can vary significantly across different neighborhoods. Each year, Horseshoe Bend 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 Horseshoe Bend's effective property tax rate to other counties in Idaho and the national median. Understanding how these areas compare with Horseshoe Bend provides valuable insights into the varying tax landscape across Boise County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Horseshoe Bend Tax Rate
0.26%
Average Boise County Tax Rate
0.30%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Horseshoe Bend, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83629 | 0.21% | 0.22% | 0.26% | 0.32% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Horseshoe Bend, Idaho
In Horseshoe Bend, 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 Boise 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 Horseshoe Bend, 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. For instance, the median home price in Horseshoe Bend is $389,209, with tax bills ranging from $874 at the 25th percentile to $2,599 at the 90th percentile. 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 Horseshoe Bend helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Horseshoe Bend Assessed Value
$389,209
Average Boise County Assessed Value
$366,025
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Horseshoe Bend, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83629 | $28,485 | $115,081 | $389,209 | $660,126 | $929,328 |
Source: Ownwell
Property Tax Bills Across Horseshoe Bend, Idaho
In Horseshoe Bend, property tax bills are calculated based on the assessed value of the home and the applicable tax rate set by Boise County. The assessed value is determined by the county assessor and reflects the market value of the property. This value is then multiplied by the local tax rate to calculate the annual property tax bill. For example, if a home in Horseshoe Bend has a median home price of $389,209, the tax bill can vary significantly. Homeowners in the 25th percentile might pay around $874, while those in the 75th percentile could see bills as high as $1,956. At the 90th percentile, the tax bill can reach up to $2,599. These property taxes are used to fund essential local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Horseshoe Bend's rates offer a range that could be more or less burdensome depending on individual property values and specific local rates.
Average Horseshoe Bend Tax Bill
$1,281
Average Boise County Tax Bill
$1,257
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Horseshoe Bend, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83629 | $501 | $874 | $1,281 | $1,956 | $2,599 |
Source: Ownwell