Hailey, Idaho Property Taxes
The median property tax rate in Hailey, ID is 0.32%, significantly lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Hailey at $668,654, the typical annual property tax bill reaches $2,273, which is below the national median of $2,690. Property taxes in Hailey 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 Hailey'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 Hailey or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hailey, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$2,140
Ownwell’s Hailey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hailey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hailey 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 Hailey, Idaho
Property taxes in Hailey, Idaho, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hailey is 0.32%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Hailey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hailey 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. Understanding Hailey's effective property tax rate in comparison to the national median 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 Hailey Tax Rate
0.32%
Average Blaine County Tax Rate
0.35%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hailey, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83333 | 0.24% | 0.28% | 0.32% | 0.38% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Hailey, Idaho
In Hailey, 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's Office 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 Hailey, 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. The median home price in Hailey is $668,654, with tax bills ranging from $1,548 at the 25th percentile to $6,581 at the 90th percentile. The zip code 83333 has both the highest and lowest median tax bill at $2,273. Being aware of these valuation processes in Hailey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hailey Assessed Value
$668,654
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 Hailey, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83333 | $337,896 | $462,250 | $668,654 | $1,114,467 | $2,143,602 |
Source: Ownwell
Property Tax Bills Across Hailey, Idaho
In Hailey, property tax bills are calculated based on the assessed value of a home, which is determined by the Blaine County assessor. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the final tax amount, including the property's location, size, and any applicable exemptions. Homeowners in Hailey can expect a range of property tax bills. For instance, those in the 25th percentile pay around $1,548 annually, while those in the 75th percentile see bills closer to $3,570. The 90th percentile of homeowners faces tax bills as high as $6,581. The median tax bill in the 83333 zip code stands at $2,273, which is notably lower than the national median property tax rate of 0.99%. These property taxes fund essential community services like schools, public safety, and infrastructure, directly impacting the quality of life for Hailey residents.
Average Hailey Tax Bill
$2,273
Average Blaine County Tax Bill
$2,555
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Hailey, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83333 | $1,097 | $1,548 | $2,273 | $3,570 | $6,581 |
Source: Ownwell