Chubbuck, Idaho Property Taxes
The median property tax rate in Chubbuck, ID is 0.61%, slightly higher than the Idaho state median of 0.50% but lower than the national median of 0.99%. With the median home value in Chubbuck at $79,230, the typical annual property tax bill is $261, which is significantly below the national median of $2,690. Property taxes in Chubbuck are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Chubbuck'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 Chubbuck or another part of Bannock County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chubbuck, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$483
Ownwell’s Chubbuck Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chubbuck with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chubbuck 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 Chubbuck, Idaho
Property taxes in Chubbuck, Idaho, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Chubbuck is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Chubbuck set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chubbuck 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 Chubbuck's effective property tax rate to other areas in Bannock County and the national median. For comparison, the 83202 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these areas compare with Chubbuck provides valuable insights into the varying tax landscape across Bannock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chubbuck Tax Rate
0.61%
Average Bannock County Tax Rate
0.67%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chubbuck, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83202 | 0.25% | 0.33% | 0.61% | 0.97% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Chubbuck, Idaho
In Chubbuck, 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 Bannock 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 Chubbuck, 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 Chubbuck helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 83202 has both the highest and lowest median tax bill, each at $261.
Average Chubbuck Assessed Value
$79,230
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 Chubbuck, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83202 | $11,452 | $32,180 | $79,230 | $89,860 | $97,754 |
Source: Ownwell
Property Tax Bills Across Chubbuck, Idaho
In Chubbuck, property tax bills are calculated based on the assessed value of a home, which is determined by the Bannock County Assessor's office. The assessed value is a percentage of the market value, which reflects the home's estimated selling price. Various factors influence this assessed value, including the property's location, size, and condition. Once the assessed value is established, it's multiplied by the local tax rate to determine the tax bill. For homeowners in Chubbuck, the median home price is $79,230. The median property tax rate in Bannock County results in a tax bill that typically falls between $108 at the 25th percentile and $988 at the 90th percentile. The highest median tax bill in the area is $261, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable, but it also means that local services funded by property taxes may have more limited budgets.
Average Chubbuck Tax Bill
$261
Average Bannock County Tax Bill
$1,810
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Chubbuck, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83202 | $50 | $108 | $261 | $412 | $988 |
Source: Ownwell