Bayview, Idaho Property Taxes
The median property tax rate in Bayview, Idaho is 0.39%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Bayview at $301,536, the typical annual property tax bill amounts to $1,033, considerably less than the national median of $2,690. Property taxes in Bayview are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bayview'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 Bayview 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
Bayview, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$1,176
Ownwell’s Bayview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bayview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bayview 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 Bayview, Idaho
Property taxes in Bayview, Idaho, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bayview is 0.65%, higher than both the Idaho state median of 0.69% and the U.S. national median of 0.99%. Local government entities within Bayview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bayview 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 Bayview's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83803 zip code has the highest median property tax rate of 0.75%, while the 83804 zip code has the lowest median tax rate of 0.55%. Understanding how these cities compare with Bayview provides valuable insights into the varying tax landscape across Kootenai County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bayview Tax Rate
0.39%
Average Kootenai County Tax Rate
0.32%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bayview, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83803 | 0.24% | 0.28% | 0.39% | 0.47% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Bayview, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bayview, Idaho. 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 Kootenai 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 Bayview, 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. The median home price in Bayview is $301,536, with the 25th percentile tax bill at $536 and the 75th percentile at $1,602. The highest median tax bill is $1,033 in zip code 83803. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bayview Assessed Value
$301,536
Average Kootenai County Assessed Value
$537,335
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bayview, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83803 | $41,809 | $145,175 | $301,536 | $470,450 | $827,756 |
Source: Ownwell
Property Tax Bills Across Bayview, Idaho
In Bayview, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office in Kootenai County. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the property's location, size, and condition, as well as any applicable exemptions, play a role in the assessment process. Homeowners in Bayview face varying tax bills. At the 25th percentile, the tax bill is around $536, while at the 75th percentile, it jumps to $1,602. For those in the 90th percentile, the tax bill can reach as high as $2,663. The highest and lowest median tax bills in the area are both $1,033, found in the zip code 83803. Compared to the national median property tax rate of 0.99%, Bayview’s tax rates can significantly impact homeowners, influencing their annual budgeting and long-term financial planning. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Bayview Tax Bill
$1,033
Average Kootenai County Tax Bill
$1,799
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Bayview, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83803 | $196 | $536 | $1,033 | $1,602 | $2,663 |
Source: Ownwell