Payette, Idaho Property Taxes
The median property tax rate in Payette, ID is 0.34%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Payette at $280,387, the typical annual property tax bill is $933, well below the national median of $2,690. Property taxes in Payette 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 Payette'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 Payette 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
Payette, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$953
Ownwell’s Payette Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Payette with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Payette 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 Payette, Idaho
Property taxes in Payette, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Payette is 0.34%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Payette set these rates annually, and they can vary significantly across different neighborhoods. Each year, Payette 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 Payette'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 found in another region, while Payette enjoys one of the lowest median tax rates in the state. Understanding how these cities compare with Payette provides valuable insights into the varying tax landscape across Payette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Payette Tax Rate
0.34%
Average Payette County Tax Rate
0.33%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Payette, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83661 | 0.16% | 0.25% | 0.34% | 0.44% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Payette, Idaho
In Payette, 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 Payette 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 Payette, 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. For instance, Payette's median home price is $280,387, with tax bills ranging from $575 at the 25th percentile to $1,989 at the 90th percentile. 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 Payette helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Payette Assessed Value
$280,387
Average Payette County Assessed Value
$332,995
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Payette, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83661 | $132,473 | $204,337 | $280,387 | $371,688 | $498,986 |
Source: Ownwell
Property Tax Bills Across Payette, Idaho
In Payette, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county and is meant to reflect the market value of the property. Homeowners in Payette experience property tax bills that vary significantly, with the 25th percentile paying around $575 annually and the 75th percentile paying about $1,442. At the higher end, the 90th percentile sees tax bills reaching up to $1,989. The median home price in Payette is $280,387, and the property tax rate is influenced by this value. The highest and lowest median tax bills in the area are both $933, found in the 83661 zip code. Compared to the national median property tax rate of 0.99%, Payette offers a relatively moderate tax burden. These factors collectively impact homeowners by determining their annual financial obligations towards property taxes, which in turn can influence decisions related to homeownership and real estate investments in the area.
Average Payette Tax Bill
$933
Average Payette County Tax Bill
$1,100
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Payette, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83661 | $160 | $575 | $933 | $1,442 | $1,989 |
Source: Ownwell