Cambridge, Idaho Property Taxes
The median property tax rate in Cambridge, Idaho is 0.43%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Cambridge at $197,356, the typical annual property tax bill amounts to $809, far below the national median of $2,690. Property taxes in Cambridge are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cambridge'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 Cambridge 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
Cambridge, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$849
Ownwell's Cambridge Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cambridge, Idaho with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cambridge to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in exploring trends at a neighborhood level, additional localized information is available below. Your property's assessed value is determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Cambridge, Idaho
Property taxes in Cambridge, Idaho, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cambridge is 0.43%, which is lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Cambridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cambridge 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 Cambridge's effective property tax rate to other areas in Idaho and the national median. For comparison, the 83610 zip code has the highest median property tax rate of 0.43%, while the same zip code also has the lowest median tax rate of 0.43%. Understanding how these cities compare with Cambridge provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cambridge Tax Rate
0.43%
Average Washington County Tax Rate
0.53%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cambridge, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83610 | 0.29% | 0.36% | 0.43% | 0.68% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Cambridge, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cambridge, 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 Washington 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 Cambridge, 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 Cambridge is $197,356, and the median tax bill varies significantly, with the 25th percentile at $415 and the 90th percentile reaching $2,150. The zip code with the highest median tax bill is 83610, at $809. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cambridge Assessed Value
$197,356
Average Washington County Assessed Value
$218,893
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cambridge, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83610 | $21,477 | $106,437 | $197,356 | $313,427 | $440,016 |
Source: Ownwell
Property Tax Bills Across Cambridge, Idaho
In Cambridge, Washington County, ID, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For homeowners in Cambridge, the median home price is $197,356. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, improvements, and any applicable exemptions. Homeowners in Cambridge can expect a range of tax bills, with the 25th percentile at $415 and the 75th percentile at $1,479. The 90th percentile tax bill reaches up to $2,150. Compared to the national median property tax rate of 0.99%, Cambridge's property tax rates can vary significantly. Homeowners should be aware of these factors as they directly impact their annual financial obligations. Understanding how these elements come together helps homeowners in Cambridge plan and budget effectively for their property taxes.
Average Cambridge Tax Bill
$809
Average Washington County Tax Bill
$1,116
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Cambridge, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83610 | $88 | $415 | $809 | $1,479 | $2,150 |
Source: Ownwell