Carey, Idaho Property Taxes
The median property tax rate in Carey, ID is 0.30%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Carey at $270,116, the typical annual property tax bill reaches $808, which is well below the national median of $2,690. Property taxes in Carey are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Carey'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 Carey or another part of Blaine County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carey, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$810
Ownwell’s Carey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carey 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 Carey, Idaho
Property taxes in Carey, Idaho, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carey is 0.30%, significantly lower than both the Idaho state median of 0.69% and the U.S. national median of 0.99%. Local government entities within Carey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carey 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 Carey'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 0.91%, while the lowest median tax rate is 0.31%. Understanding how these cities compare with Carey provides valuable insights into the varying tax landscape across Blaine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carey Tax Rate
0.30%
Average Blaine County Tax Rate
0.35%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carey, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83320 | 0.20% | 0.25% | 0.30% | 0.39% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Carey, Idaho
In Carey, 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 Blaine County Assessor 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 Carey, 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. For example, the median home price in Carey is $270,116, with the tax bill ranging from $329 at the 25th percentile to $2,954 at the 90th percentile. The zip code 83320 has the highest and lowest median tax bill, both at $808. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Carey Assessed Value
$270,116
Average Blaine County Assessed Value
$709,430
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carey, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83320 | $8,430 | $102,707 | $270,116 | $419,652 | $935,022 |
Source: Ownwell
Property Tax Bills Across Carey, Idaho
In Carey, located in Blaine County, ID, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and represents a percentage of the property's market value. For instance, the median home price in Carey is $270,116. Homeowners then apply the local tax rate to this assessed value to determine their annual tax bill. Several factors influence the final tax bill, including the property's location within specific tax districts, any applicable exemptions, and the overall budget needs of the local government and public services. In Carey, the tax bills vary significantly, with the 25th percentile at $329 and the 75th percentile reaching $1,386. The 90th percentile tax bill can go as high as $2,954. Understanding these factors is crucial for homeowners, as property taxes can significantly impact annual household expenses. Compared to the national median property tax rate of 0.99%, Carey's tax rates reflect the unique economic and governmental needs of Blaine County.
Average Carey Tax Bill
$808
Average Blaine County Tax Bill
$2,555
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Carey, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83320 | $39 | $329 | $808 | $1,386 | $2,954 |
Source: Ownwell