Soda Springs, Idaho Property Taxes
The median property tax rate in Soda Springs, ID is 0.82%, which is lower than the national median of 0.99% but higher than the Idaho state median of 0.50%. With a median home value of $16,046, the typical annual property tax bill in Soda Springs amounts to $166, significantly below the national median of $2,690. Property taxes in Soda Springs are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Soda Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Soda Springs 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
Soda Springs, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$132
Ownwell’s Soda Springs Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Soda Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Soda Springs 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 Soda Springs, Idaho
Property taxes in Soda Springs, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Soda Springs is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Soda Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Soda Springs 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 Soda Springs' effective property tax rate to other areas in Caribou County and the national median. For comparison, 83276 has the highest median property tax rate of 0.83%, while 83285 has the lowest median tax rate of 0.56%. Understanding how these cities compare with Soda Springs provides valuable insights into the varying tax landscape across Caribou County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Soda Springs Tax Rate
0.82%
Average Caribou County Tax Rate
0.73%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Soda Springs, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83276 | 0.45% | 0.53% | 0.83% | 1.26% | 1.51% |
| 83285 | 0.29% | 0.39% | 0.56% | 0.69% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Soda Springs, Idaho
In Soda Springs, 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 Caribou 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 Soda Springs, 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 Soda Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $1,942 in the 83285 zip code, while the lowest is $164 in the 83276 zip code.
Average Soda Springs Assessed Value
$16,046
Average Caribou County Assessed Value
$58,764
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Soda Springs, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83276 | $4,764 | $7,321 | $15,587 | $169,060 | $284,905 |
| 83285 | $239,480 | $243,060 | $249,027 | $353,814 | $416,686 |
Source: Ownwell
Property Tax Bills Across Soda Springs, Idaho
In Soda Springs, located in Caribou County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and condition. For instance, the median home price in Soda Springs is $16,046, and tax bills can range significantly. Homeowners at the 25th percentile pay around $85, while those at the 75th percentile pay approximately $1,103. The highest tax bills, at the 90th percentile, can reach up to $1,996. These property taxes fund essential services such as public schools, road maintenance, and emergency services, directly impacting the quality of life for homeowners. While the median tax rate in Soda Springs may seem modest compared to the national median of 0.99%, the variability in tax bills underscores the importance of understanding local property assessments.
Average Soda Springs Tax Bill
$166
Average Caribou County Tax Bill
$502
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Soda Springs, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83276 | $55 | $85 | $164 | $1,088 | $1,956 |
| 83285 | $837 | $1,252 | $1,942 | $2,257 | $2,445 |
Source: Ownwell