Sterling, Idaho Property Taxes
The median property tax rate in Sterling, Idaho is 0.85%, which is lower than the national median of 0.99% but significantly higher than the Idaho state median of 0.50%. With a median home value of $115,272 in Sterling, the typical annual property tax bill is $1,003, falling below the national median of $2,690. Property taxes in Sterling are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Sterling'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 Sterling or another part of Bingham County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sterling, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$980
$909
Ownwell’s Sterling Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sterling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sterling 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 Sterling, Idaho
Property taxes in Sterling, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sterling is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Sterling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sterling 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 Sterling's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83210 zip code has the highest median property tax rate of 0.85%, while the lowest median tax rate is also 0.85% in the same zip code. Understanding how these cities compare with Sterling provides valuable insights into the varying tax landscape across Bingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sterling Tax Rate
0.85%
Average Bingham County Tax Rate
0.49%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sterling, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83210 | 0.84% | 0.84% | 0.85% | 0.86% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Sterling, Idaho
In Sterling, 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 Bingham 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 Sterling, 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 Sterling helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 83210 has the highest median tax bill at $1003, while the same zip code also records the lowest median tax bill at $1003, highlighting the variability within the area.
Average Sterling Assessed Value
$115,272
Average Bingham County Assessed Value
$255,122
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sterling, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83210 | $30,204 | $69,822 | $115,272 | $184,051 | $265,662 |
Source: Ownwell
Property Tax Bills Across Sterling, Idaho
In Sterling, located in Bingham County, property tax bills are calculated based on the assessed value of a homeowner’s property. The assessed value is determined by the county assessor and is influenced by the market value of the property. Homeowners in Sterling can expect their tax bills to vary significantly, with the 25th percentile paying around $630 and the 75th percentile paying up to $1557. For those in the 90th percentile, tax bills can reach as high as $2240. Several factors contribute to these variations, including property size, location, and any improvements made to the property. The median home price in Sterling is $115,272, which can provide a benchmark for understanding these tax rates. Compared to the national median property tax rate of 0.99%, Sterling’s property tax rates can be seen as relatively moderate but still impactful on homeowners. These taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly affecting the quality of life in the community.
Average Sterling Tax Bill
$1,003
Average Bingham County Tax Bill
$1,085
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Sterling, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83210 | $271 | $630 | $1,003 | $1,557 | $2,240 |
Source: Ownwell