Yellow Pine, Idaho Property Taxes
The median property tax rate in Yellow Pine, ID is 0.37%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Yellow Pine, the typical annual property tax bill reaches $690, well below the national median of $2,690. Property taxes in Yellow Pine 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 Yellow Pine'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 Yellow Pine or another part of Valley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yellow Pine, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$689
Ownwell’s Yellow Pine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yellow Pine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yellow Pine 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 Valley County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Yellow Pine, Idaho
Property taxes in Yellow Pine, Idaho, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yellow Pine is 0.37%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Yellow Pine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yellow Pine 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 Yellow Pine'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 Valley County, with a rate of 0.37%, while other counties may have varying rates. Understanding how these cities compare with Yellow Pine provides valuable insights into the varying tax landscape across Valley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yellow Pine Tax Rate
0.37%
Average Valley County Tax Rate
0.29%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yellow Pine, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83677 | 0.24% | 0.31% | 0.37% | 0.42% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Yellow Pine, Idaho
In Yellow Pine, 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 Valley County Assessor 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 Yellow Pine, 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. Yellow Pine's median home price stands at $186,181, with tax bills ranging from $447 at the 25th percentile to $1,384 at the 90th percentile. The zip code 83677 has both the highest and lowest median tax bills at $690. 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 Yellow Pine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Yellow Pine Assessed Value
$186,181
Average Valley County Assessed Value
$597,522
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yellow Pine, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83677 | $27,860 | $106,930 | $186,181 | $297,224 | $424,472 |
Source: Ownwell
Property Tax Bills Across Yellow Pine, Idaho
In Yellow Pine, Valley County, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Yellow Pine is $186,181. Property assessments are conducted to determine the market value of your property, which is then multiplied by the local tax rate to calculate your tax bill. The tax rate in Yellow Pine is relatively low compared to the national median property tax rate of 0.99%. Homeowners in the 25th percentile can expect to pay around $447, while those in the 75th percentile might see bills closer to $996. For those in the 90th percentile, the tax bill can reach up to $1,384. These variations are influenced by factors such as property size, location, and improvements. Understanding these factors can help homeowners anticipate their property tax bills and plan accordingly. A lower tax rate in Yellow Pine makes it an attractive area for potential homeowners looking for affordability in property taxes.
Average Yellow Pine Tax Bill
$690
Average Valley County Tax Bill
$1,821
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Yellow Pine, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83677 | $203 | $447 | $690 | $996 | $1,384 |
Source: Ownwell