Priest River, Idaho Property Taxes
The median property tax rate in Priest River, ID is 0.30%, significantly lower than both the national median of 0.99% and Idaho's state median of 0.50%. With the median home value in Priest River at $391,053, the typical annual property tax bill is $1,124, well below the national median of $2,690. Property taxes in Priest River are calculated based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Priest River's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Priest River 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
Priest River, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$1,173
Ownwell’s Priest River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Priest River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Priest River 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 Priest River, Idaho
Property taxes in Priest River, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Priest River is 0.30%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Priest River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Priest River 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 Priest River's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in the region is found in 83856 with a rate of 0.40%, while the lowest median tax rate is in 83805 at 0.20%. Understanding how these cities compare with Priest River 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 Priest River Tax Rate
0.30%
Average Bonner County Tax Rate
0.34%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Priest River, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83856 | 0.21% | 0.22% | 0.30% | 0.35% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Priest River, Idaho
In Priest River, 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 Priest River, 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 Priest River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1124, found in the zip code 83856.
Average Priest River Assessed Value
$391,053
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 Priest River, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83856 | $135,179 | $255,720 | $391,053 | $585,919 | $882,590 |
Source: Ownwell
Property Tax Bills Across Priest River, Idaho
In Priest River, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor in Bonner County. The assessed value is a percentage of the market value of the property. Several factors influence this value, including property size, location, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Priest River, the median home price is $391,053. Property tax bills can vary significantly, with the 25th percentile tax bill at $702 and the 75th percentile reaching $1,693. At the 90th percentile, homeowners might see a tax bill as high as $2,539. The highest and lowest median tax bills in the area are both $1,124, associated with the zip code 83856. Compared to the national median property tax rate of 0.99%, Priest River’s property taxes can be relatively moderate, affecting homeowners by influencing their overall housing costs and potentially their decisions regarding property investments.
Average Priest River Tax Bill
$1,124
Average Bonner County Tax Bill
$1,672
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Priest River, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83856 | $312 | $702 | $1,124 | $1,693 | $2,539 |
Source: Ownwell