Gannett, Idaho Property Taxes
The median property tax rate in Gannett, Idaho is 0.23%, significantly lower than both the national median of 0.99% and Idaho's state median of 0.50%. With the median home value in Gannett, the typical annual property tax bill is $828, far below the national median of $2,690. Property taxes in Gannett are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Gannett's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gannett or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gannett, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.23%
Estimate Property Tax Bill
$704
$654
Ownwell’s Gannett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gannett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gannett 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 Gannett, Idaho
Property taxes in Gannett, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gannett is 0.23%, significantly lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Gannett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gannett 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 Gannett'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 0.45%, while the lowest median tax rate is 0.15%. Understanding how these cities compare with Gannett 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 Gannett Tax Rate
0.23%
Average Blaine County Tax Rate
0.35%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gannett, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83313 | 0.16% | 0.19% | 0.23% | 0.34% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Gannett, Idaho
In Gannett, 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 Gannett, 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 Gannett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Gannett, the highest and lowest median tax bills are both $828, found in zip code 83313.
Average Gannett Assessed Value
$306,219
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 Gannett, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83313 | $60,779 | $254,540 | $306,219 | $443,260 | $638,996 |
Source: Ownwell
Property Tax Bills Across Gannett, Idaho
In Gannett, Blaine County, ID, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. Homeowners in Gannett see a range of tax bills depending on their property's assessed value. For example, the 25th percentile tax bill is $424, while the 75th percentile reaches $1,363, and the 90th percentile climbs to $1,839. These values indicate that property taxes can vary significantly within the community. The median home price in Gannett is $306,219, which helps contextualize these tax bills. Compared to the national median property tax rate of 0.99%, Gannett's property taxes are relatively moderate. However, they still represent a significant expense for homeowners. Understanding these factors can help residents plan their finances and appeal their property tax assessments if they believe their property has been overvalued.
Average Gannett Tax Bill
$828
Average Blaine County Tax Bill
$2,555
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Gannett, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83313 | $113 | $424 | $828 | $1,363 | $1,839 |
Source: Ownwell