Payette, Idaho Property Taxes
The median property tax rate in Payette, ID is 0.39%, 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, the typical annual property tax bill reaches $1,822, which is well below the national median of $2,690. Property taxes in Payette 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 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
0.39%
Estimate Property Tax Bill
$1,809
Ownwell’s Payette Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate 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 financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Payette is 0.54%, which is higher than the Idaho state median of 0.45% but still below 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 in Blaine County at 0.73%, while the lowest median tax rate is in Madison County at 0.38%. 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
0.39%
Average Washington County Tax Rate
0.53%
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 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
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 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. Assessment notices in Payette 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 Payette helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Payette are both $1,822, found in the 83661 zip code.
Average Payette Assessed Value
$463,814
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 Payette, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83661 | $463,814 | $463,814 | $463,814 | $463,814 | $463,814 |
Source: Ownwell
Property Tax Bills Across Payette, Idaho
In Payette, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. This value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Payette, the median home price is $463,814, and the tax rate results in a median tax bill of $1,822. This figure remains consistent across various percentiles, indicating a uniform application of the tax rate within the city. Factors that influence the tax bill include changes in the market value of the property, local government budgets, and any applicable exemptions or deductions. For instance, if the market value of homes increases, the assessed value and consequently the tax bill may also rise. Conversely, exemptions can lower the taxable value, reducing the overall tax burden. Compared to the national median property tax rate of 0.99%, Payette's tax rate is relatively moderate, providing homeowners with a predictable and manageable tax expense.
Average Payette Tax Bill
$1,822
Average Washington County Tax Bill
$1,116
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 | $1,822 | $1,822 | $1,822 | $1,822 | $1,822 |
Source: Ownwell