Midvale, Idaho Property Taxes
The median property tax rate in Midvale, Idaho 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 Midvale, the typical annual property tax bill is $706, well below the national median of $2,690. Property taxes in Midvale are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Midvale'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 Midvale 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
Midvale, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$735
Ownwell’s Midvale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Midvale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Midvale 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 Midvale, Idaho
Property taxes in Midvale, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Midvale is 0.61%, which is higher than the Idaho state median of 0.58% but still below the U.S. national median of 0.99%. Local government entities within Midvale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Midvale 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 Midvale's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83254 zip code has the highest median property tax rate of 1.04%, while the 83462 zip code has the lowest median tax rate of 0.32%. Understanding how these cities compare with Midvale 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 Midvale Tax Rate
0.37%
Average Washington County Tax Rate
0.53%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Midvale, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83645 | 0.26% | 0.32% | 0.37% | 0.62% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Midvale, Idaho
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Midvale, 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 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 Midvale, 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 Midvale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 83645, both at $706.
Average Midvale Assessed Value
$198,732
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 Midvale, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83645 | $27,955 | $97,010 | $198,732 | $308,924 | $442,016 |
Source: Ownwell
Property Tax Bills Across Midvale, Idaho
In Midvale, Idaho, property tax bills are calculated based on the assessed value of your home and the local tax rate set by Washington County. The assessed value is determined by the county assessor and is supposed to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including property size, location, and recent sales of similar properties in the area. Homeowners in Midvale can expect to pay varying amounts in property taxes. For instance, the 25th percentile tax bill is around $373, while the 75th percentile reaches $1,329. The highest median tax bill recorded in the area is $706, which is significantly lower than the national median property tax rate of 0.99%. These tax bills directly impact homeowners by adding an additional annual expense that must be budgeted for, potentially affecting long-term financial planning and housing affordability.
Average Midvale Tax Bill
$706
Average Washington County Tax Bill
$1,116
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Midvale, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83645 | $97 | $373 | $706 | $1,329 | $1,943 |
Source: Ownwell