Mullan, Idaho Property Taxes
The median property tax rate in Mullan, ID is 0.84%, which is lower than the national median of 0.99% but significantly higher than the Idaho state median of 0.50%. With a median home value of $141,960 in Mullan, the typical annual property tax bill amounts to $843, well below the national median of $2,690. Property taxes in Mullan are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mullan'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 Mullan or elsewhere in the city, gaining a comprehensive understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mullan, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,192
Ownwell’s Mullan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mullan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mullan 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 Mullan, Idaho
Property taxes in Mullan, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mullan is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Mullan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mullan 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 Mullan's effective property tax rate to other areas in Shoshone County and the national median. For comparison, the zip code 83846 has the same median property tax rate of 0.84%. Understanding how these areas compare with Mullan provides valuable insights into the varying tax landscape across Shoshone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mullan Tax Rate
0.84%
Average Shoshone County Tax Rate
0.56%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mullan, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83846 | 0.44% | 0.49% | 0.84% | 1.06% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Mullan, Idaho
In Mullan, 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 Shoshone 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 Mullan, 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 Mullan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mullan is $141,960, with the highest and lowest median tax bills both at $843 in the 83846 zip code.
Average Mullan Assessed Value
$141,960
Average Shoshone County Assessed Value
$166,384
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mullan, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83846 | $10,193 | $49,582 | $141,960 | $203,006 | $255,836 |
Source: Ownwell
Property Tax Bills Across Mullan, Idaho
Property tax bills in Mullan, located in Shoshone County, ID, are calculated based on the assessed value of a property and the local tax rate. The assessed value, determined by the county assessor, is a percentage of the property's market value. Homeowners in Mullan face a median property tax rate of 0.99%, aligning with the national median. For a home with a median price of $141,960, this results in a typical tax bill of around $843 annually. Several factors influence the final tax bill, including property size, location, and improvements made. The tax bill can vary significantly, with the 25th percentile paying approximately $244 and the 75th percentile paying up to $1568. At the 90th percentile, homeowners might see bills as high as $2122. These property taxes fund essential local services such as schools, roads, and emergency services, directly impacting the community's quality of life. Understanding these factors can help homeowners anticipate their tax obligations and manage their finances more effectively.
Average Mullan Tax Bill
$843
Average Shoshone County Tax Bill
$991
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Mullan, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83846 | $42 | $244 | $843 | $1,568 | $2,122 |
Source: Ownwell