Minidoka, Idaho Property Taxes
The median property tax rate in Minidoka, ID is 0.48%, notably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Minidoka, the typical annual property tax bill is $503, significantly below the national median of $2,690. Property taxes in Minidoka are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Minidoka'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 Minidoka 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
Minidoka, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$476
Ownwell’s Minidoka Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Minidoka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Minidoka 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 Minidoka, Idaho
Property taxes in Minidoka, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Minidoka is 0.48%, which is significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Minidoka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Minidoka 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 Minidoka's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83343 has the highest median property tax rate of 0.48%, while zip code 83350 has the lowest median tax rate of 0.48%. Understanding how these areas compare with Minidoka provides valuable insights into the varying tax landscape across the county, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Minidoka Tax Rate
0.48%
Average Minidoka County Tax Rate
0.49%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Minidoka, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83343 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| 83350 | 0.47% | 0.47% | 0.48% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Minidoka, Idaho
In Minidoka, 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 county 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 Minidoka, 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. For instance, the highest median tax bill in Minidoka is $850 in zip code 83343, while the lowest is $294 in zip code 83350. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Minidoka Assessed Value
$99,204
Average Minidoka County Assessed Value
$229,100
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Minidoka, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83343 | $175,348 | $175,348 | $175,348 | $175,348 | $175,348 |
| 83350 | $26,360 | $38,500 | $58,735 | $78,970 | $91,110 |
Source: Ownwell
Property Tax Bills Across Minidoka, Idaho
In Minidoka, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in this area is $99,204. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property location within the county and any applicable exemptions also influence the final amount. For instance, the tax bill can range significantly, with the 25th percentile being $294 and the 75th percentile reaching $676. In some cases, it can go as high as $780, particularly in zip code 83343, which has the highest median tax bill of $850. Homeowners in Minidoka should be aware of these variations as they can impact their financial planning. Compared to the national median property tax rate of 0.99%, Minidoka's tax rates are relatively moderate, making it crucial for homeowners to understand how their specific tax bills are determined.
Average Minidoka Tax Bill
$503
Average Minidoka County Tax Bill
$1,155
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Minidoka, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83343 | $850 | $850 | $850 | $850 | $850 |
| 83350 | $126 | $189 | $294 | $398 | $461 |
Source: Ownwell