Bayview, Idaho Property Taxes
The median property tax rate in Bayview, Idaho is 0.44%, which is significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Bayview, the typical annual property tax bill amounts to $1,268, which falls well below the national median of $2,690. Property taxes in Bayview are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Bayview'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 Bayview or another part of Bonner County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bayview, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$1,323
Ownwell’s Bayview Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bayview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bayview 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 Bayview, Idaho
Property taxes in Bayview, Idaho, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Bayview is 0.44%, which is lower than the U.S. national median of 0.99%. Local government entities within Bayview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bayview 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 Bayview's effective property tax rate to other areas in Idaho and the national median. For comparison, the zip code 83803 has both the highest and lowest median property tax rate of 0.44%. Understanding how these areas compare with Bayview provides valuable insights into the varying tax landscape across Bonner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bayview Tax Rate
0.44%
Average Bonner County Tax Rate
0.34%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bayview, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83803 | 0.31% | 0.38% | 0.44% | 0.49% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Bayview, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bayview, Idaho. 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 Bonner 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 Bayview, 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. The median home price in Bayview is $300,660, with tax bills ranging significantly. The 25th percentile tax bill is $746, while the 75th percentile reaches $2,110. The highest median tax bill in the area is $1,268 in the 83803 zip code, which also has the lowest median tax bill of $1,268. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Bayview Assessed Value
$300,660
Average Bonner County Assessed Value
$479,353
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bayview, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83803 | $93,183 | $160,259 | $300,660 | $563,695 | $777,692 |
Source: Ownwell
Property Tax Bills Across Bayview, Idaho
In Bayview, Bonner County, ID, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Bayview is $300,660, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can affect the assessed value, ultimately influencing the tax bill. For homeowners in Bayview, the tax bill can vary significantly. At the 25th percentile, homeowners can expect to pay around $746 annually, while those at the 75th percentile might see bills as high as $2,110. The 90th percentile tax bill can reach up to $2,926. Comparatively, the highest and lowest median tax bills in the area are both $1,268, indicating a range of tax burdens across different properties. Understanding these factors is crucial for homeowners as property taxes directly impact their annual expenses and overall financial planning.
Average Bayview Tax Bill
$1,268
Average Bonner County Tax Bill
$1,672
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Bayview, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83803 | $388 | $746 | $1,268 | $2,110 | $2,926 |
Source: Ownwell