Oasis, Idaho Property Taxes
The median property tax rate in Oasis, ID is 0.43%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With a median home value of $59,460 in Oasis, the typical annual property tax bill is around $258, which is well below the national median of $2,690. Property taxes in Oasis are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Oasis's property tax system and exploring available exemptions can lead to substantial annual savings. Whether you're in the heart of Oasis or another part of Elmore County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oasis, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$256
Ownwell’s Oasis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oasis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oasis 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 Oasis, Idaho
Property taxes in OASIS, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in OASIS is 0.43%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within OASIS set these rates annually, and they can vary across different neighborhoods. Each year, OASIS 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 OASIS's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83647 has both the highest and lowest median property tax rate in the area, at 0.43%. Understanding how these cities compare with OASIS 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 Oasis Tax Rate
0.43%
Average Elmore County Tax Rate
0.50%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oasis, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83647 | 0.43% | 0.43% | 0.43% | 0.43% | 0.43% |
Source: Ownwell
Property Tax Assessment Values Across Oasis, Idaho
In Oasis, 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 Oasis, 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 Oasis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 83647 at $258, while the lowest is also 83647 at $258.
Average Oasis Assessed Value
$59,460
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 Oasis, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83647 | $59,460 | $59,460 | $59,460 | $59,460 | $59,460 |
Source: Ownwell
Property Tax Bills Across Oasis, Idaho
Property tax bills in Oasis, Elmore County, ID are determined by assessing the property's value and applying the local tax rate. The assessed value is often a percentage of the property's market value, reflecting its worth in the current real estate market. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. In Oasis, the median home price is $59,460, and the median property tax bill stands at $258, which is significantly lower than the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood developments, and market conditions can influence the assessed value. For homeowners, this means that any increase in property value could result in higher property taxes. However, the relatively low property tax in Oasis can be an attractive aspect for potential homeowners looking to minimize their annual expenses. Understanding these factors can help homeowners anticipate changes in their property tax bills and manage their finances more effectively.
Average Oasis Tax Bill
$258
Average Elmore County Tax Bill
$1,251
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Oasis, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83647 | $258 | $258 | $258 | $258 | $258 |
Source: Ownwell