Sun Valley, Idaho Property Taxes
The median property tax rate in Sun Valley, ID is 0.40%, considerably lower than both the national median of 0.99% and the Idaho state median of 0.50%. With the median home value in Sun Valley at $991,768, the typical annual property tax bill reaches $3,995, which exceeds the national median of $2,690. Property taxes in Sun Valley 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 Sun Valley'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 Sun Valley 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
Sun Valley, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$3,967
$3,681
Ownwell’s Sun Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sun Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sun Valley 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 Sun Valley, Idaho
Property taxes in Sun Valley, Idaho, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sun Valley is 0.40%, significantly lower than the U.S. national median of 0.99%. Local government entities within the city set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sun Valley 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 Sun Valley's effective property tax rate to other counties in Idaho and the national median. Understanding how these cities compare with Sun Valley 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 Sun Valley Tax Rate
0.40%
Average Blaine County Tax Rate
0.35%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sun Valley, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83353 | 0.32% | 0.36% | 0.40% | 0.42% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Sun Valley, Idaho
In Sun Valley, 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 Sun Valley, 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 Sun Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Sun Valley's median home price is $991,768, with tax bills ranging from $2,316 at the 25th percentile to $13,433 at the 90th percentile. The zip code 83353 has both the highest and lowest median tax bills at $3,995.
Average Sun Valley Assessed Value
$991,768
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 Sun Valley, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83353 | $351,000 | $574,922 | $991,768 | $2,073,684 | $3,576,924 |
Source: Ownwell
Property Tax Bills Across Sun Valley, Idaho
In Sun Valley, 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 is typically a percentage of the property's market value. Homeowners in Sun Valley can expect varying tax bills depending on their home's value, with the 25th percentile tax bill at $2,316 and the 75th percentile reaching $8,018. For those in the 90th percentile, tax bills can be as high as $13,433. The median home price in Sun Valley is $991,768, which significantly impacts the overall tax burden on homeowners. Comparatively, the national median property tax rate is 0.99%, making Sun Valley's tax rates relatively high. Factors such as property improvements, neighborhood changes, and market trends also influence the assessed value, thereby affecting the tax bill. High property taxes can impact homeowners' budgets, but they also contribute to local services and infrastructure, enhancing community quality.
Average Sun Valley Tax Bill
$3,995
Average Blaine County Tax Bill
$2,555
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Sun Valley, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83353 | $1,307 | $2,316 | $3,995 | $8,018 | $13,433 |
Source: Ownwell