Bannock County Property Taxes
The median property tax rate in Bannock County is 0.67%, which is lower than the national median of 0.99% but higher than the Idaho state median of 0.50%. With the median home value in Bannock County at $263,380, the typical annual property tax bill amounts to $1,810, significantly below the national median of $2,690. Property taxes in Bannock County are calculated based on the tax assessed value, which typically falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Bannock County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Pocatello or another part of Bannock County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bannock County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$1,765
Ownwell’s Bannock County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Bannock County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Bannock County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Bannock County, Idaho
Property taxes in Bannock County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Bannock County is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Bannock County set these rates annually, and they can vary significantly between different areas within the county. Each year, Bannock County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Pocatello has one of the higher property tax rates in Idaho at 0.72%, while the city of Swanlake boasts one of the lowest at 0.40%. Analyzing how Bannock County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Bannock County Tax Rate
0.67%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bannock County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arimo | 0.22% | 0.36% | 0.44% | 0.58% | 0.84% |
| Chubbuck | 0.25% | 0.33% | 0.61% | 0.97% | 1.27% |
| Downey | 0.19% | 0.34% | 0.49% | 0.59% | 0.94% |
| Inkom | 0.21% | 0.23% | 0.41% | 0.55% | 0.76% |
| Lava Hot Springs | 0.19% | 0.33% | 0.46% | 0.57% | 0.66% |
| Mccammon | 0.21% | 0.34% | 0.45% | 0.56% | 0.74% |
| Pocatello | 0.34% | 0.58% | 0.72% | 0.91% | 1.20% |
| Swanlake | 0.30% | 0.33% | 0.40% | 0.52% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Bannock County, Idaho
In Bannock County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Bannock County Appraisal District. The assessed value, however, 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 Bannock County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Bannock County, Pocatello has the highest median tax bill at $2,009, while Chubbuck has the lowest median tax bill at $261. Being aware of these valuation processes in Bannock County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Bannock County Assessed Value
$263,380
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bannock County, Idaho
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arimo | $47,422 | $179,147 | $266,308 | $363,197 | $515,761 |
| Chubbuck | $11,452 | $32,180 | $79,230 | $89,860 | $97,754 |
| Downey | $73,874 | $159,470 | $216,478 | $305,024 | $411,390 |
| Inkom | $5,000 | $58,850 | $243,671 | $424,124 | $619,640 |
| Lava Hot Springs | $46,000 | $70,360 | $95,274 | $302,920 | $447,277 |
| Mccammon | $40,116 | $156,830 | $267,432 | $378,193 | $512,782 |
| Pocatello | $88,882 | $198,908 | $269,379 | $366,176 | $498,938 |
| Swanlake | $48,301 | $171,524 | $250,922 | $358,551 | $424,433 |
Source: Ownwell
Property Tax Bills Across Bannock County, Idaho
In Bannock County, Idaho, 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 property's market value, reflecting current real estate conditions. Various factors such as property size, location, and home improvements are considered in this assessment. Homeowners in Bannock County experience a range of tax bills, with the 25th percentile at $999 and the 75th percentile at $2,893. The 90th percentile reaches up to $4,120, indicating that higher-value properties incur significantly higher taxes. Comparatively, the highest median tax bill in Bannock County is found in Pocatello at $2,009, while Chubbuck has the lowest at $261. These variations highlight how local factors and property values influence tax amounts. With the national median property tax rate at 0.99%, Bannock County homeowners may find their tax bills to be relatively moderate, affecting their overall cost of homeownership and financial planning.
Average Bannock County Tax Bill
$1,810
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Bannock County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arimo | $257 | $653 | $1,091 | $1,676 | $2,298 |
| Chubbuck | $50 | $108 | $261 | $412 | $988 |
| Downey | $169 | $570 | $974 | $1,500 | $2,039 |
| Inkom | $10 | $155 | $991 | $1,891 | $3,167 |
| Lava Hot Springs | $135 | $222 | $480 | $1,423 | $2,250 |
| Mccammon | $163 | $544 | $1,044 | $1,714 | $2,472 |
| Pocatello | $295 | $1,242 | $2,009 | $3,065 | $4,307 |
| Swanlake | $178 | $601 | $875 | $1,602 | $2,172 |
Source: Ownwell