Coolin, Idaho Property Taxes
The median property tax rate in Coolin, Idaho is 0.31%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Coolin, the typical annual property tax bill reaches $2,718, just above the national median of $2,690. Property taxes in Coolin are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Coolin'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 Coolin or another part of Bonner County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coolin, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.31%
Estimate Property Tax Bill
$2,772
Ownwell’s Coolin Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Coolin, Bonner County. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Coolin to provide an accurate estimate of your property tax bill. This valuable resource helps you understand potential tax liabilities and make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property's assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Coolin, Idaho
Property taxes in Coolin, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coolin is 0.31%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Coolin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coolin 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 Coolin's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in Bonner County is found in zip code 83856 at 0.50%, while the lowest median tax rate is in zip code 83864 at 0.25%. Understanding how these cities compare with Coolin 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 Coolin Tax Rate
0.31%
Average Bonner County Tax Rate
0.34%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coolin, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83821 | 0.26% | 0.30% | 0.31% | 0.37% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Coolin, Idaho
In Coolin, 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 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 Coolin, 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 is $894,222, with tax bills ranging from $1,644 at the 25th percentile to $5,252 at the 90th percentile. The highest and lowest median tax bills in the area are both $2,718, found in the 83821 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Coolin Assessed Value
$894,222
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 Coolin, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83821 | $305,040 | $527,796 | $894,222 | $1,214,774 | $1,635,377 |
Source: Ownwell
Property Tax Bills Across Coolin, Idaho
In Coolin, located in Bonner County, ID, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. For instance, if the median home price is $894,222, the assessed value is determined by local tax assessors. The property tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence this calculation, including the property's location, size, and any improvements made. Homeowners in Coolin can expect their property tax bills to vary significantly. For example, the tax bill at the 25th percentile is $1,644, while at the 75th percentile, it rises to $4,139. At the 90th percentile, it can reach up to $5,252. These variations can significantly impact homeowners' annual financial planning and budgeting. Compared to the national median property tax rate of 0.99%, Coolin's property tax rates reflect the region's unique real estate market and local government funding needs.
Average Coolin Tax Bill
$2,718
Average Bonner County Tax Bill
$1,672
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Coolin, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83821 | $1,043 | $1,644 | $2,718 | $4,139 | $5,252 |
Source: Ownwell