Lewisville, Idaho Property Taxes
The median property tax rate in Lewisville, Idaho is 0.39%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Lewisville at $266,002, the typical annual property tax bill reaches $1,016, well below the national median of $2,690. Property taxes in Lewisville 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 Lewisville'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 Lewisville 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
Lewisville, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$1,037
-$10,872
Ownwell’s Lewisville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lewisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lewisville 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 Lewisville, Idaho
Property taxes in Lewisville, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lewisville is 0.46%, lower than both the Idaho state median of 0.69% and the U.S. national median of 0.99%. Local government entities within Lewisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lewisville 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 Lewisville's effective property tax rate to other counties in Idaho and the national median. For comparison, the highest median property tax rate in the region is 0.85%, while the lowest median tax rate is 0.38%. Understanding how these cities compare with Lewisville provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lewisville Tax Rate
0.39%
Average Jefferson County Tax Rate
0.39%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lewisville, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83431 | 0.27% | 0.34% | 0.39% | 0.51% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Lewisville, Idaho
In Lewisville, 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 Jefferson 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 Lewisville, 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 Lewisville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 83431 has both the highest and lowest median tax bill at $1,016.
Average Lewisville Assessed Value
$266,002
Average Jefferson County Assessed Value
$327,168
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lewisville, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83431 | $58,968 | $169,060 | $266,002 | $370,586 | $482,407 |
Source: Ownwell
Property Tax Bills Across Lewisville, Idaho
In Lewisville, Jefferson County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Lewisville is $266,002. Property taxes are influenced by local tax rates and the assessed value, which is often a percentage of the market value. For instance, a home valued at the median price could see tax bills ranging from $627 at the 25th percentile to $2,034 at the 90th percentile. The property tax rate in Lewisville is relatively modest compared to the national median property tax rate of 0.99%. This means homeowners in Lewisville may experience lower tax bills compared to other regions. For example, the highest median tax bill in the area is $1,016, which is significantly lower than many other parts of the country. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in the community.
Average Lewisville Tax Bill
$1,016
Average Jefferson County Tax Bill
$1,302
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Lewisville, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83431 | $271 | $627 | $1,016 | $1,576 | $2,034 |
Source: Ownwell