Mountain Home Afb, Idaho Property Taxes
The median property tax rate in Mountain Home AFB, ID is 0.69%, which is below the national median of 0.99% but higher than the Idaho state median of 0.50%. With a median home value of $470,045 in Mountain Home AFB, the typical annual property tax bill amounts to $2,305, which is less than the national median of $2,690. Property taxes in Mountain Home AFB are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Mountain Home AFB'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 Mountain Home AFB 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
Mountain Home Afb, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$3,243
Ownwell’s Mountain Home AFB Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mountain Home AFB with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mountain Home AFB 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 Mountain Home Afb, Idaho
Property taxes in Mountain Home AFB, Idaho, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mountain Home AFB is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Mountain Home AFB set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mountain Home AFB 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 Mountain Home AFB's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83648 has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these areas compare with Mountain Home AFB provides valuable insights into the varying tax landscape across Elmore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mountain Home Afb Tax Rate
0.69%
Average Elmore County Tax Rate
0.50%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mountain Home Afb, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83648 | 0.44% | 0.64% | 0.69% | 0.73% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Mountain Home Afb, Idaho
In Mountain Home AFB, 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 Elmore 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 Mountain Home AFB, 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 Mountain Home AFB 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 $2,305, found in zip code 83648.
Property Tax Assessment Values Across Mountain Home Afb, Idaho
Source: Ownwell
$59,460
$264,753
$470,045
Average Mountain Home Afb Assessed Value
$470,045
Average Elmore County Assessed Value
$276,790
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mountain Home Afb, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83648 | $95,882 | $202,002 | $470,045 | $516,679 | $585,170 |
Source: Ownwell
Property Tax Bills Across Mountain Home Afb, Idaho
In Mountain Home AFB, located in Elmore County, ID, property tax bills are calculated based on the assessed value of a home. The tax bill is determined by multiplying the assessed value by the local tax rate. For instance, with a median home price of $470,045, homeowners can expect a tax bill that varies widely. At the 25th percentile, the tax bill is around $1,387, while it can rise to $3,108 at the 75th percentile and reach $3,435 at the 90th percentile. The assessed value considers factors such as the home's market value, location, and property features. This ensures that tax bills are proportionate to the property's worth. Comparatively, the national median property tax rate is 0.99%, making Mountain Home AFB's rates relatively moderate. For homeowners, this means that while property taxes can be a significant expense, they are reflective of the local real estate market and contribute to essential public services.
Average Mountain Home Afb Tax Bill
$2,305
Average Elmore County Tax Bill
$1,251
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Mountain Home Afb, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83648 | $882 | $1,387 | $2,305 | $3,108 | $3,435 |
Source: Ownwell