Minidoka, Idaho Property Taxes
The median property tax rate in Minidoka, ID is 0.80%, which is lower than the national median of 0.99% but higher than Idaho's state median of 0.50%. With a median home value of $312,846 in Minidoka, the typical annual property tax bill amounts to $3,760, surpassing the national median of $2,690. Property taxes in Minidoka are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Minidoka'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 Minidoka 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
Minidoka, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$2,503
$2,322
Ownwell’s Minidoka Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Minidoka. By simply entering your property's estimated assessed value, the calculator uses the median tax rate specific to Minidoka to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making financial planning easier. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value, determined by the county, serves as the basis for property tax calculations, incorporating any applicable exemptions.
Property Tax Rates Across Minidoka, Idaho
Property taxes in Minidoka, Idaho, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Minidoka is 0.65%, lower than the Idaho state median of 0.69% and significantly below the U.S. national median of 0.99%. Local government entities within Minidoka set these rates annually, and they can vary across different neighborhoods. Each year, Minidoka 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 Minidoka's effective property tax rate to other counties in Idaho and the national median. For comparison, the zip code 83350 has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these areas compare with Minidoka provides valuable insights into the varying tax landscape across Minidoka County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Minidoka Tax Rate
0.80%
Average Blaine County Tax Rate
0.35%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Minidoka, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83350 | 0.33% | 0.33% | 0.80% | 1.40% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Minidoka, Idaho
In Minidoka, 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 Minidoka 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 Minidoka, 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 Minidoka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 83350 has the highest and lowest median tax bill at $3,760.
Average Minidoka Assessed Value
$312,846
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 Minidoka, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83350 | $35,016 | $65,506 | $312,846 | $541,100 | $583,118 |
Source: Ownwell
Property Tax Bills Across Minidoka, Idaho
In Minidoka, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Various factors influence the assessed value, including the property's location, size, and any improvements made. Minidoka's property tax rate is relatively low compared to the national median of 0.99%. For instance, the tax bill at the 25th percentile is $214, while at the 75th percentile, it rises to $7,122. The highest median tax bill in the area is $3,760, which is significantly lower than the national average. These property tax bills directly impact homeowners by affecting their annual expenses and potentially influencing their decisions on home improvements and property investments. Lower property taxes can be an attractive factor for potential buyers, making Minidoka a more appealing place to live.
Average Minidoka Tax Bill
$3,760
Average Blaine County Tax Bill
$2,555
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Minidoka, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83350 | $114 | $214 | $3,760 | $7,122 | $8,819 |
Source: Ownwell