Bear Lake County, Idaho Property Taxes
The median property tax rate in Bear Lake County is 0.36%, which is significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Bear Lake County at $278,628, the typical annual property tax bill reaches $1,081, well below the national median of $2,690. Property taxes in Bear Lake County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Bear Lake 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 Montpelier or another part of Bear Lake County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bear Lake County, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$1,003
$931
Ownwell’s Bear Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Bear Lake with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Bear Lake 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 Bear Lake County, Idaho
Property taxes in Bear Lake play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Bear Lake is 0.36%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Bear Lake set these rates annually, and they can vary significantly between different areas within the county. Each year, Bear Lake 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. The following data compares Bear Lake's effective property tax rate with other counties in Idaho and the national median. For comparison, the city of Bloomington has both one of the higher and lower property tax rates in Idaho at 0.45%. Analyzing how Bear Lake's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Bear Lake County Tax Rate
0.36%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bear Lake County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bennington | N/A | N/A | N/A | N/A | N/A |
| Bern | 0.22% | 0.23% | 0.26% | 0.40% | 0.51% |
| Bloomington | N/A | N/A | N/A | N/A | N/A |
| Dingle | 0.24% | 0.24% | 0.33% | 0.43% | 0.47% |
| Fish Haven | 0.26% | 0.33% | 0.35% | 0.37% | 0.38% |
| Geneva | 0.22% | 0.23% | 0.28% | 0.39% | 0.46% |
| Georgetown | 0.25% | 0.26% | 0.30% | 0.42% | 0.55% |
| Montpelier | 0.23% | 0.34% | 0.39% | 0.52% | 0.80% |
| Ovid | 0.22% | 0.23% | 0.26% | 0.40% | 0.47% |
| Paris | 0.26% | 0.27% | 0.34% | 0.53% | 0.63% |
| Saint Charles | 0.27% | 0.31% | 0.34% | 0.36% | 0.47% |
| Soda Springs | 0.25% | 0.26% | 0.27% | 0.39% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Bear Lake County, Idaho
In Bear Lake 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 Bear Lake 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 Bear Lake 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. For instance, Fish Haven has the highest median tax bill at $1,724, while Geneva has the lowest at $598. Being aware of these valuation processes in Bear Lake County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Bear Lake County, Idaho
Source: Ownwell
$207,892
$356,474
$505,055
Average Bear Lake County Assessed Value
$278,628
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bear Lake County, Idaho
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bennington | N/A | N/A | N/A | N/A | N/A |
| Bern | $133,854 | $177,500 | $240,281 | $353,856 | $507,989 |
| Bloomington | N/A | N/A | N/A | N/A | N/A |
| Dingle | $144,795 | $175,028 | $230,194 | $349,845 | $423,407 |
| Fish Haven | $285,285 | $374,493 | $505,055 | $713,456 | $1,160,190 |
| Geneva | $127,917 | $184,428 | $222,517 | $304,698 | $370,631 |
| Georgetown | $123,789 | $164,935 | $210,547 | $262,084 | $387,323 |
| Montpelier | $94,538 | $147,810 | $207,892 | $294,905 | $399,486 |
| Ovid | $138,928 | $173,265 | $225,430 | $308,105 | $437,574 |
| Paris | $116,150 | $168,806 | $212,835 | $288,780 | $437,970 |
| Saint Charles | $187,888 | $318,970 | $456,718 | $668,924 | $1,116,066 |
| Soda Springs | $141,296 | $290,562 | $359,483 | $446,264 | $561,665 |
Source: Ownwell
Property Tax Bills Across Bear Lake County, Idaho
In Bear Lake County, Idaho, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the market value of similar properties and any improvements made to the property. Homeowners in Bear Lake County experience a range of property tax bills. The 25th percentile tax bill is $702, while the 75th percentile tax bill is $1,623. Those in the 90th percentile see tax bills as high as $2,373. Notably, Fish Haven has the highest median tax bill at $1,724, whereas Geneva has the lowest at $598. These tax bills can significantly affect homeowners, influencing decisions on buying, selling, or improving properties. Compared to the national median property tax rate of 0.99%, Bear Lake County's rates can vary, impacting the overall affordability and financial planning for residents.
Average Bear Lake County Tax Bill
$1,081
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Bear Lake County, Idaho
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bennington | N/A | N/A | N/A | N/A | N/A |
| Bern | $424 | $546 | $716 | $1,001 | $1,342 |
| Bloomington | N/A | N/A | N/A | N/A | N/A |
| Dingle | $469 | $561 | $872 | $1,025 | $1,374 |
| Fish Haven | $982 | $1,351 | $1,724 | $2,383 | $3,845 |
| Geneva | $439 | $494 | $598 | $878 | $1,395 |
| Georgetown | $434 | $518 | $637 | $954 | $1,184 |
| Montpelier | $467 | $655 | $879 | $1,245 | $1,664 |
| Ovid | $451 | $533 | $683 | $899 | $1,361 |
| Paris | $506 | $596 | $805 | $1,085 | $1,551 |
| Saint Charles | $750 | $1,141 | $1,552 | $2,288 | $3,425 |
| Soda Springs | $601 | $746 | $999 | $1,282 | $1,951 |
Source: Ownwell
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