Malta, Idaho Property Taxes
The median property tax rate in Malta, Idaho is 0.49%, slightly below the state median of 0.50% and significantly lower than the national median of 0.99%. With a median home value of $170,189 in Malta, the typical annual property tax bill is around $585, well below the national median of $2,690. Property taxes in Malta are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Malta's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Malta or another part of Cassia County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Malta, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$834
Ownwell’s Malta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Malta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malta 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 Malta, Idaho
Property taxes in Malta, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Malta is 0.49%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Malta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malta 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 Malta's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83342 has the highest median property tax rate of 0.49%, while the lowest median tax rate is also 0.49% in the same zip code. Understanding how these cities compare with Malta provides valuable insights into the varying tax landscape across Cassia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Malta Tax Rate
0.49%
Average Cassia County Tax Rate
0.38%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malta, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83342 | 0.27% | 0.30% | 0.49% | 0.62% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Malta, Idaho
In Malta, 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 Cassia 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 Malta, 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 Malta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Malta are both $585.00, found in the 83342 zip code.
Average Malta Assessed Value
$170,189
Average Cassia County Assessed Value
$232,517
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Malta, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83342 | $8,902 | $42,700 | $170,189 | $281,419 | $444,676 |
Source: Ownwell
Property Tax Bills Across Malta, Idaho
In Malta, property tax bills are determined by the assessed value of a home and the local tax rate set by Cassia County. The assessed value is typically a percentage of the market value of the property, and this value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $170,189, the tax bill can range significantly depending on various factors. Homeowners in Malta can expect tax bills to vary widely. The 25th percentile tax bill is around $227, while the 75th percentile tax bill is approximately $1,099. At the 90th percentile, the tax bill can reach up to $1,762. The highest median tax bill in the area is $585 in the 83342 zip code. These variations depend on factors such as property size, location, and any applicable exemptions or deductions. Understanding these factors helps homeowners budget for their annual property taxes and plan for any potential increases, ensuring they are well-prepared for future financial commitments.
Average Malta Tax Bill
$585
Average Cassia County Tax Bill
$844
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Malta, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83342 | $66 | $227 | $585 | $1,099 | $1,762 |
Source: Ownwell