Challis, Idaho Property Taxes
The median property tax rate in Challis, ID is 0.33%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Challis at $160,320, the typical annual property tax bill is $464, well below the national median of $2,690. Property taxes in Challis are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Challis'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 Challis or another part of Custer County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Challis, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$529
Ownwell’s Challis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Challis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Challis 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 Challis, Idaho
Property taxes in Challis, Idaho, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Challis is 0.33%, lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Challis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Challis 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 Challis's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in Idaho is found in some areas, while others have the lowest median tax rate. Understanding how these cities compare with Challis provides valuable insights into the varying tax landscape across Custer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Challis Tax Rate
0.33%
Average Custer County Tax Rate
0.40%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Challis, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83226 | 0.18% | 0.22% | 0.33% | 0.43% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Challis, Idaho
In Challis, 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 Custer 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 Challis, 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 Challis 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 $464, found in zip code 83226.
Average Challis Assessed Value
$160,320
Average Custer County Assessed Value
$172,930
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Challis, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83226 | $25,860 | $74,880 | $160,320 | $232,040 | $329,122 |
Source: Ownwell
Property Tax Bills Across Challis, Idaho
In Challis, located in Custer County, ID, property tax bills are calculated based on the assessed value of a home. The median home price in Challis is $160,320. Property taxes are determined by multiplying the assessed value by the local tax rate. For example, homeowners in the 25th percentile pay an annual tax bill of $197, while those in the 75th percentile pay $773. At the 90th percentile, the tax bill rises to $1,172. Several factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions. Homeowners in Challis benefit from lower property tax rates compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in the city are both $464, indicating a consistent tax rate across different neighborhoods. This consistency helps homeowners better predict and manage their annual property tax expenses, making it easier to budget and plan for the future.
Average Challis Tax Bill
$464
Average Custer County Tax Bill
$617
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Challis, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83226 | $89 | $197 | $464 | $773 | $1,172 |
Source: Ownwell