Emmett, Idaho Property Taxes
The median property tax rate in Emmett, ID is 0.28%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Emmett at $389,710, the typical annual property tax bill amounts to $1,227, well below the national median of $2,690. Property taxes in Emmett are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Emmett'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 Emmett or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Emmett, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$1,091
Ownwell’s Emmett Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Emmett with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Emmett to provide an estimate of your property tax bill. This valuable tool offers insight into your potential tax liabilities. For those interested in neighborhood-specific trends, further localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Emmett, Idaho
Property taxes in Emmett, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emmett is 0.28%, significantly lower than both the Idaho state median of 0.69% and the U.S. national median of 0.99%. Local government entities within Emmett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emmett 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 Emmett'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 0.83%, while the lowest median tax rate is 0.28%. Understanding how these cities compare with Emmett provides valuable insights into the varying tax landscape across Gem County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emmett Tax Rate
0.28%
Average Gem County Tax Rate
0.28%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emmett, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83617 | 0.16% | 0.23% | 0.28% | 0.42% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Emmett, Idaho
In Emmett, 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 Gem 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 Emmett, 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. Emmett's median home price is $389,710, with tax bills ranging from $787 at the 25th percentile to $2,178 at the 90th percentile. The highest and lowest median tax bills are both $1,227 in zip code 83617. Being aware of these valuation processes in Emmett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Emmett Assessed Value
$389,710
Average Gem County Assessed Value
$389,330
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Emmett, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83617 | $153,269 | $264,240 | $389,710 | $542,301 | $746,523 |
Source: Ownwell
Property Tax Bills Across Emmett, Idaho
In Emmett, located in Gem County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. Several factors influence this assessed value, including the home's location, size, and condition. Once the assessed value is established, the local tax rate is applied to determine the annual property tax bill. For homeowners in Emmett, the property tax bills can vary significantly. The 25th percentile tax bill stands at $787, while the 75th percentile reaches $1,679, and the 90th percentile climbs to $2,178. These figures reflect the range of property taxes paid by residents, influenced by the varying assessed values of their homes. With the national median property tax rate at 0.99%, Emmett's property taxes can be seen as relatively moderate. Understanding these factors helps homeowners anticipate their tax obligations and manage their financial planning more effectively.
Average Emmett Tax Bill
$1,227
Average Gem County Tax Bill
$1,205
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Emmett, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83617 | $255 | $787 | $1,227 | $1,679 | $2,178 |
Source: Ownwell