New Plymouth, Idaho Property Taxes
The median property tax rate in New Plymouth, ID is 0.30%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in New Plymouth, the typical annual property tax bill reaches $3,205, which exceeds the national median of $2,690. Property taxes in New Plymouth are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding New Plymouth'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 New Plymouth 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
New Plymouth, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$3,238
Ownwell’s New Plymouth Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in New Plymouth with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in New Plymouth to provide an estimated property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across New Plymouth, Idaho
Property taxes in New Plymouth, Idaho, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Plymouth is 0.30%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within New Plymouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Plymouth 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 New Plymouth'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 0.75%, while the lowest median tax rate is 0.25%. Understanding how these cities compare with New Plymouth 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 New Plymouth Tax Rate
0.30%
Average Gem County Tax Rate
0.28%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Plymouth, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83655 | 0.30% | 0.30% | 0.30% | 0.30% | 0.30% |
Source: Ownwell
Property Tax Assessment Values Across New Plymouth, Idaho
In New Plymouth, 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 New Plymouth, 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. Notably, the highest and lowest median tax bills in New Plymouth are both $3,205, found in the 83655 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Plymouth Assessed Value
$1,079,381
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 New Plymouth, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83655 | $1,079,381 | $1,079,381 | $1,079,381 | $1,079,381 | $1,079,381 |
Source: Ownwell
Property Tax Bills Across New Plymouth, Idaho
In New Plymouth, Gem County, ID, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. In Gem County, the tax rate is influenced by local government budgets and voter-approved levies for services such as schools, infrastructure, and emergency services. Homeowners in New Plymouth experience property tax bills that are consistent across various percentiles, with a median tax bill of $3,205. This amount is notably higher than the national median property tax rate of 0.99%, reflecting the specific fiscal needs and property values in the area. For homeowners, this means that a significant portion of their annual expenses is allocated to property taxes, impacting their overall cost of homeownership. Understanding these factors can help homeowners better anticipate their financial obligations and plan accordingly.
Average New Plymouth Tax Bill
$3,205
Average Gem County Tax Bill
$1,205
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across New Plymouth, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83655 | $3,205 | $3,205 | $3,205 | $3,205 | $3,205 |
Source: Ownwell